Lion Group Holding shares surge 21.92% after-hours as $10 million private placement earmarks $8 million for Bitcoin purchase.

Lion Group Holding surged 21.92% in after-hours trading following the announcement of a $10 million private placement, with $8 million of net proceeds allocated to purchasing Bitcoin for its corporate treasury. The move, aimed at leveraging Bitcoin’s liquidity and diversifying its asset portfolio amid favorable market conditions, was highlighted by CEO Wilson Wang as a strategic step to enhance treasury value while maintaining focus on the Hyperliquid ecosystem. The subsequent closing, expected on December 5, 2025, underscores the company’s proactive approach to capital allocation during a perceived "flight to quality" in digital assets. Multiple press releases and reports from Reuters and Dow Jones emphasized the significance of the Bitcoin investment, aligning with the stock’s sharp post-market rally.