Cosmos Health secures up to $300 million in funding to launch its ETH treasury strategy

PANews reported on August 6th that, according to GlobeNewswire, Cosmos Health (NASDAQ: COSM) has signed a securities purchase agreement with a US institutional investor to issue up to $300 million in senior convertible secured notes to fund its Ethereum (ETH) reserve strategy. The company is required to purchase at least 72.5% of the net proceeds from each round of financing in ETH, which will be held in custody and staked by BitGo to enhance its "ETH per share" metric. The remaining funds will be used for product research and development, business expansion, and its US manufacturing base initiative. The company also plans to explore additional revenue streams to optimize the cash flow and utilization of its ETH assets.