MEI Pharma Announces $100M Placement To Initiate Litecoin Treasury Strategy: Retail Cheers Charlie Lee’s Addition To Company Board

MEI Pharma, Inc. (MEIP) announced on Friday a $100 million private placement to initiate a Litecoin treasury strategy, sending the company's shares trading 37% higher at the time of writing.

The company announced that it has entered into securities purchase agreements for a private investment in public equity (PIPE) transaction, involving the purchase and sale of over 29 million shares of common stock for $3.42 per share.

The pharmaceutical company stated that it anticipates aggregate gross proceeds of approximately $100 million, net of expenses and fees. MEI Pharma intends to use the funds to acquire the native cryptocurrency of the Litecoin blockchain, commonly referred to as “LTC”, which will serve as the company’s primary treasury reserve asset.

On Stocktwits, retail sentiment around MEI Pharma trended in the ‘extremely bullish’ territory, coupled with ‘extremely high’ message volume.

The transaction will also make MEI the first and only publicly traded LTC holder on a national exchange, it added. Litecoin (LTC) is a leading peer-to-peer cryptocurrency created by Charlie Lee in October 2011.

MEI will appoint Charlie Lee, also a lead investor in the placement, to its Board of Directors, upon the closing of the transaction, and GSR, a preeminent digital asset market maker, as its digital asset and treasury management advisor to oversee the implementation of its Litecoin Treasury Strategy.

A Stocktwits user applauded Charlie Lee's involvement in the company, opining that it is “huge.”

The company stated that the transaction marks a significant milestone in its long-term strategic plan. By integrating Litecoin into its treasury operations, MEI gains access to a decentralized monetary asset that complements its cash management framework.

The closing of the PIPE is expected to occur on or about July 22, 2025, subject to the satisfaction of customary closing conditions.

A more pessimistic user on Stocktwits, however, highlighted the company’s financials, opining that its future viability hinges on funding or partnerships.

MEIP stock is up by 150% this year and by about 115% over the past 12 months

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