Jiuzi’s 83-Fold Surge In Private Placement Financing Size Has Become The Talk Of The Town Today – Everything To Know About The Agreement

• Jiuzi stated that it will use the funds to develop its crypto asset business, including building advanced, secure custody infrastructure and storage solutions.
• The Hangzhou, China-based company announced its Bitcoin treasury plans in October in partnership with the SOLV Foundation.
• As part of the collaboration, Jiuzi allocated up to $1 billion from its digital asset plan toward Bitcoin staking and yield products.

Jiuzi Holdings Inc. (JZXN) shares rose more than 90% in Friday’s pre-market trade before paring most of the gains after the company signed a Memorandum of Understanding (MOU) with multiple institutional investors to increase the size of its private placement financing.

Jiuzi announced that its $12 million private placement plan had been expanded to $1 billion, marking an 83-fold increase in the financing scheme.

Jiuzi shares were up 27% in Friday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory, with the stock being the seventh most trending ticker on the platform at the time of writing.

Jiuzi stated that it will use the funds toward the development of its crypto asset business, including building advanced secure custody infrastructure and storage solutions.

Jiuzi’s Bitcoin Treasury Plans

The Hangzhou, China-based company announced its Bitcoin (BTC) treasury plans in October in partnership with the SOLV Foundation. As part of the collaboration, Jiuzi allocated up to $1 billion from its digital asset plan toward Bitcoin staking and yield products.

Jiuzi said it will deploy up to 10,000 BTC into SolvBTC.BNB, which is SOLV’s yield-bearing vault.

Earlier in October, Jiuzi announced that it would acquire Bitcoin worth up to $1 billion in a phased manner.

Crypto Acquisition

In another announcement in October, Jiuzi stated that it had entered into securities purchase agreements with non-U.S. institutional investors to raise up to $30 million.

Jiuzi said it would issue units to investors participating in the private placement and use the proceeds to purchase cryptocurrencies.

The company also stated that it secured 100 BTC in October through a private placement.

JZXN stock is down 87% year-to-date and 91% over the past 12 months.

Also See: Is LULU Stock 'Dead Money’? Jefferies Believes So But Calls CEO Change A 'Big Positive', Recommends Return To Roots

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