Public company 180 Life Sciences has completed a $425 million private placement to launch an Ethereum treasury strategy and plans to raise an additional $150 million

ChainCatcher news, according to stocktitan, 180 Life Sciences (NASDAQ: ATNF) has successfully completed a $425 million private placement financing to implement its Ethereum financial strategy. The PIPE (Private Investment in Public Equity) deal was priced at $2.65 per share, with this round led by Electric Capital and Harbour Island, and notable cryptocurrency investment firms such as Borderless Capital and Polychain Capital participating.

The company plans to use the raised funds primarily to purchase Ethereum (ETH) and to launch a yield generation program managed by Electric Capital. This program aims to achieve returns that exceed traditional ETH staking through a combination of strategies including staking, lending, and providing liquidity. Additionally, the company announced significant governance structure adjustments, including the appointment of McAndrew Rudisill as chairman of the board and the addition of several independent directors.

After completing this PIPE financing, the company may also raise up to $150 million further by issuing fixed-income securities.