Tharimmune, Inc. announced that it has entered into subscription agreements with institutional and accredited investors for a private placement offering valued at approximately $540 million. Shares of common stock, or pre-funded warrants in lieu thereof, were priced at $3.075 per share. Bloomberg Law reports that the closing of the offering is expected to occur on or around November 6, 2025, subject to customary closing conditions.
Leading the investment were DRW and Liberty City Ventures, joined by a group of prominent investors including ARK Invest, Bitwave, Broadridge, Clear Street, Copper, Kraken, and Polychain Capital, among others. The Canton Foundation, the governing body of the Canton Network, also participated, marking Tharimmune as the first publicly traded company supported by the foundation.
According to Bloomberg Law, Tharimmune plans to use the net proceeds to acquire Canton Coin ("CC"), the utility token that facilitates interoperability and settlement across the Canton Network. The company also intends to operate as a Super Validator and run additional Validators to obtain more CC tokens. The strategy reflects Tharimmune's confidence in Canton's blockchain infrastructure, which integrates programmability, privacy, and interoperability at scale.
Unlike typical digital asset treasuries that focus solely on token acquisition, Tharimmune intends to pursue a diversified strategy. This includes generating CC rewards as a Super Validator and investing in the development of blockchain-based applications designed to enhance institutional adoption and scalability across capital markets.
The Canton Network, backed by major financial institutions such as Goldman Sachs, DRW, and BNP Paribas, is widely regarded as a breakthrough in institutional-grade blockchain technology. It enables secure, private, and interoperable financial transactions with real-world performance.
Tharimmune's existing management team will continue to oversee its clinical-stage biotech operations. To guide its digital asset treasury strategy, the company appointed Mark Wendland as Chief Executive Officer and Mark Toomey as President. Both executives bring significant experience in global financial markets and operational leadership.
The offering was made to institutional accredited investors under Section 4(a)(2) of the Securities Act of 1933 and is exempt from registration requirements. The securities may not be offered or sold in the United States without an effective registration statement or a valid exemption.
According to Bloomberg Law, Tharimmune emphasized that the transaction complies with applicable Nasdaq rules and does not constitute an offer or solicitation to sell securities in any jurisdiction where such action would be unlawful.
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