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MEI Pharma Files for Stock Sale, 25.3M Shares to be Sold for Holders
ByAinvest
Wednesday, Aug 6, 2025 5:50 pm ET1min read
MEI Pharma has filed to sell 25.3 million shares of common stock to holders.
MEI Pharma, Inc. (NASDAQ: MEIP) has announced its intention to sell 25.3 million shares of common stock to its existing shareholders. The company aims to raise capital to support its ongoing operations and strategic initiatives. The share sale is part of a broader effort to enhance the company's financial position and accelerate its growth plans.The announcement comes amidst MEI Pharma's recent strategic move to adopt Litecoin (LTC) as a primary treasury asset. The company acquired 929,548 LTC tokens at an average price of $107.58, investing a total of $100 million. This move marks the first instance of a U.S.-listed company adopting Litecoin as a reserve asset [1].
MEI Pharma's decision to diversify its treasury strategy with Litecoin underscores its commitment to financial innovation and resilience. The company has cited Litecoin's long-standing 13-year uptime, low fees, and fast settlement as key reasons for its choice. Additionally, Litecoin's broad-based adoption across various platforms, such as BitPay, PayPal, and Robinhood, further strengthens its appeal as a reserve asset [3].
The share sale is expected to provide MEI Pharma with the necessary capital to continue its drug development programs, including the investigation of voruciclib, an oral cyclin-dependent kinase 9 inhibitor. The company has also hinted at potential expansions into Litecoin mining or related ventures [3].
The announcement of the share sale coincides with MEI Pharma's ongoing efforts to update its corporate identity to reflect its expanding strategy. This includes a commitment to long-term innovation in capital structure and financial technology [1].
References:
[1] https://www.businesswire.com/news/home/20250805082856/en/MEI-Pharma-Acquires-Litecoin-Launches-%24100M-Institutional-Treasury-Strategy-with-Charlie-Lee-and-GSR-Advising
[2] https://en.coinotag.com/mei-pharmas-100m-move-to-litecoin-exploring-potential-impacts-on-market-dynamics-and-institutional-adoption/
[3] https://www.cryptotimes.io/2025/08/06/mei-pharma-invests-100m-in-litecoin-adds-charlie-lee-to-board/
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