According to Odaily Planet Daily, OneMedNet Corporation, a US listed company, announced that it has signed a securities purchase agreement with certain institutional investors, including affiliates of Off the Chain Capital and Discovery Capital Management. The total private placement proceeds are approximately US$4.6 million (excluding fees and expenses payable by the company). The private placement will end on July 25, 2024.
The price per share of common stock sold in this offering met the minimum price requirements of Nasdaq rules. The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes. Pending the use of these funds, the Company used $1.8 million of the net proceeds to purchase Bitcoin.