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FINWIRES

ZeroStack Shares Jump After $1 Billion MemeCore Token Deal

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ZeroStack (ZSTK) shares jumped 321% in Wednesday trading after the company announced a $1.0 billion token-for-equity deal with investors.

Puple AI and Blockcat agreed to contribute an aggregate $1.0 billion in Memecore tokens to ZeroStack in exchange for 3.5 million common shares and pre-funded warrants for up to 36,198,293 additional shares, priced at $25.19 each, according to the company.

The 925,925,926 MemeCore tokens were valued at $1.08 per token under the agreement. Shares issuable under the warrants in excess of the 19.99% share cap require shareholder approval before the warrants can be exercised and will be subject to a lock-up of up to 10 years.

Rudy Rong was appointed President of ZeroStack in connection with the transaction.

Price: $7.75, Change: $+5.91, Percent Change: +321.17%

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