Cleancore Solutions closes $175M placement

Cleancore Solutions closes $175M placement

CleanCore Solutions, a publicly traded company, has successfully closed a $175 million private investment in public equity (PIPE) offering, marking a significant milestone in the cryptocurrency landscape. The offering involved the sale of 175 million pre-funded warrants at $1 per warrant, with proceeds expected to total $175 million before deducting placement agent fees and other offering expenses.

The company intends to use the proceeds to implement a Dogecoin treasury strategy, making it the first public company to adopt Dogecoin as its primary treasury reserve asset. CleanCore expects to see $175 million in proceeds, funded in a combination of cash and cryptocurrencies, to be used for this purpose.

The Dogecoin Foundation and House of Doge will guide CleanCore’s treasury, creating the first foundation-backed DOGE treasury for a public company. Timothy Stebbing, Director at the Dogecoin Foundation, will join CleanCore’s board of directors, while Marco Margiotta, CEO of House of Doge, will serve as the company’s Chief Investment Officer.

The offering attracted over 80 institutional and crypto-native investors, including Pantera, GSR, FalconX, Borderless, MOZAYYX, Mythos, and Serrur & Co. LLC. The closing of the offering is expected to occur on or about September 4, 2025, pending customary approvals from the NYSE American.

CleanCore’s stock dropped 47% to $43.63 following the announcement, but remains up 116% in the past 12 months. The company’s strategic move to establish a Dogecoin treasury aligns with broader crypto trends and regulatory shifts, potentially accelerating institutional adoption of altcoins.

References:
[1] https://www.morningstar.com/news/dow-jones/202509026611/cleancore-solutions-shares-drop-after-175-million-private-investment
[2] https://cryptofrontnews.com/cleancore-solutions-becomes-first-public-company-to-adopt-dogecoin-treasury/
[3] https://www.ainvest.com/news/dogecoin-news-today-cleancore-bets-big-dogecoin-institutional-trust-pay-2509/