UK-listed TAO Alpha Plans to Raise £100 Million to Support its Bitcoin Treasury Policy
According to Morningstar, UK-listed TAO Alpha PLC has announced the launch of a second convertible loan, expecting to raise at least £100 million, after securing a £5.000 million fixed-price convertible loan. Blockchain and digital asset investment firm ParaFi Capital LP is participating and will provide an initial £20.000 million.
It is reported that TAO Alpha has established a subsidiary, Tao Alpha PTE. LTD, in Singapore to manage its financial assets. Its new Bitcoin-focused financial policy allows up to two-thirds of its cash reserves to be allocated to Bitcoin and stablecoins. The latest financing terms are expected to be finalized in mid-July.