The US-listed TAO Synergies has announced the completion of a $11 million private placement financing, with new investment from DCG

ChainCatcher news, the US-listed TAO Financial Company TAO Synergies Inc. (NASDAQ: TAOX) announced the completion of a $11 million private placement financing. This round of financing was participated by existing shareholders, TAO strategic advisor James Altucher, and new investor DCG. The financing involves the issuance of 11,000 newly issued Series E convertible preferred shares, with a par value of $1,000 per share, convertible into common stock at a conversion price of $8 per share. At the same time, five-year common stock purchase warrants were issued, with an exercise price of $8 per share.

James Altucher stated that this financing will further support the company's strategic investment in the TAO token, as well as potential opportunities to generate revenue and accumulate more TAO within the Bittensor ecosystem. The transaction is expected to be completed around October 15.