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US Stock Rectitude Holdings Signs $32.6 Million Equity Purchase Agreement to Launch Bitcoin Treasury Strategy
BlockBeats News, September 8th, according to a report by businessinsider, security equipment and related industrial product supplier Rectitude Holdings Ltd. (Nasdaq: RECT) announced today that it has formally launched a Bitcoin Treasury Reserve Strategy through a Share Equity Purchase Agreement (SEPA) with investors including Constantinople Limited. Per the customary terms, the agreement grants the company the option to issue up to $32,625,000 (commitment amount) of common stock to investors at its discretion upon the SEPA signing date and effectiveness of the F-1 registration statement submitted to the U.S. Securities and Exchange Commission. The company plans to use the funds raised under the SEPA primarily to purchase Bitcoin, with the remaining portion allocated for general corporate purposes.
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