Leap Therapeutics Shares Rise 25% After $59M Winklevoss Crypto Investment
Leap Therapeutics (LPTX) shares surged by 25% following the announcement of a $58.9 million private investment led by Winklevoss Capital, aimed at initiating a crypto treasury strategy.
- The investment is structured as a private placement, involving common shares and warrants priced at $0.61439 per unit.
- Winklevoss Capital will secure two board seats at Leap.
- The specific cryptocurrencies to be purchased have not been disclosed.
- A portion of the capital will be allocated to cryptocurrency purchases, while the remainder will fund clinical development of Leap's drug candidates.
- This move aligns Leap with other public companies incorporating crypto into their treasury reserves.
More details on Leap's digital asset strategy are expected soon. Shares increased by 25% during Monday morning trading.