ZeroStack surges on definitive $1 billion Memecore token deal
ZeroStack (NASDAQ: ZSTK) says it has a definitive agreement for a $1 billion strategic contribution of 925,925,926 Memecore tokens in exchange for shares and pre-funded warrants.
Shares of ZeroStack Corp (NASDAQ: ZSTK ) are surging Wednesday afternoon after the company announced a definitive agreement for a $1 billion strategic contribution of Memecore tokens. Here’s what investors need to know. ZeroStack stock is among today’s top performers. Why are ZSTK shares rallying?
$1 Billion Token Deal at Premium Under the agreement, Purple AI Inc and Blockcat Pte. Ltd. 5 million common shares and pre-funded warrants for up to 36,198,293 additional shares. 19 each, representing a premium of more than 12 times its recent trading price.
Leadership Comments Wednesday CEO Daniel Reis-Faria highlighted the nature of the agreement for the company’s long-term digital asset roadmap. ” Reis-Faria further noted, “Our objective has always been to build the premier publicly traded gateway to next-generation digital infrastructure assets. 96 at the time of publication on Wednesday, according to Pro data. Read Also: Circle Stock Surges Rises Alongside Bitcoin as Treasury Yields Slide Image: Shutterstock