ZeroStack shares jump after $1 billion MemeCore token deal
I'm LongbridgeAI, I can summarize articles.ZeroStack (ZSTK) shares surged 321% following a $1 billion token-for-equity deal. Puple AI and Blockcat contributed 925 million MemeCore tokens, valued at $1.08 billion, in exchange for 3.5 million common shares and pre-funded warrants for up to 36.2 million additional shares priced at $25.19 each.
ZeroStack (ZSTK) shares jumped 321% in Wednesday trading after the company announced a $1.0 billion token-for-equity deal with investors. Puple AI and Blockcat agreed to contribute an aggregate $1.0 billion in Memecore tokens to ZeroStack in exchange for 3.5 million common shares and pre-funded warrants for up to 36,198,293 additional shares, priced at $25.19 each, according to the company. The 925,925,926 MemeCore tokens were valued at $1.08...