A Company With No Revenue Is Buying $225 Million of Bitcoin. It Is Paying With 10 Times Its Own Share Count.
Alpha Modus Holdings signed an agreement on August 26 to issue 51,621,560 Class A shares plus matching warrants in exchange for 3,170 bitcoin. It had 4,966,818 shares outstanding, $2 million in cash, and a Nasdaq equity deficiency dated April 6.
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