TLGY and SC Assets announced an additional $530 million in PIPE financing for their business combination.
Ethena Foundation plans to start a $310 million token buyback program, enhancing the buybacks to a total of $570 million.
The creation of a new Strategic Advisory Board chaired by Rob Hadick aims to support the management team and board of directors.
Additional PIPE Financing
TLGY and SC Assets secured $530 million in private investment in public equity to support their combined company's treasury strategy.
Token Buyback Program
Ethena Foundation will initiate a $310 million token buyback program, building on their previous buyback program, totaling $570 million.
Strategic Advisory Board
SC Assets established a Strategic Advisory Board, led by Rob Hadick, to provide strategic counsel and support for their long-term value creation.
- The Additional PIPE financing strengthens StablecoinX's future ENA holdings, with over 3 billion ENA tokens expected at the closing of the Transaction.
- Investor participation from prominent firms like YZi Labs, Brevan Howard, and Dragonfly reflects confidence in the growth potential of stablecoins and the Ethena ecosystem.
The financing and strategic initiatives signal a strong commitment to the growth and sustainability of StablecoinX and the Ethena ecosystem. The formation of the Strategic Advisory Board enhances governance and alignment for long-term value.