Mill City Ventures III, Ltd. announced a $450,000,000 Private Placement to implement a Sui Treasury Strategy. Co-founders of Karatage will lead the Company, with significant investment from the Sui Foundation. The Offering includes participation from various prominent firms and providers in the industry.

The Company plans to use 98% of the proceeds to acquire SUI tokens and 2% for its short-term lending business. A.G.P./Alliance Global Partners is the sole placement agent. The Company will appoint new Board members and adopt a SUI treasury strategy upon closing.

Mill City intends to acquire SUI tokens through various means, including the open market and institutional-grade deal flow. The goal is to establish the Company as the sole SUI treasury with support from the Sui Foundation. The Offering is expected to close soon, subject to customary conditions.

Sullivan & Worcester LLP, Loeb & Loeb LLP, Akin Gump Strauss Hauer & Feld LLP, and O’Melveny & Myers LLP are acting as legal advisors. Mill City Ventures III, Ltd. is a specialty finance company focused on short-term lending and structured finance solutions. Karatage Opportunities is a London-based hedge fund specializing in emerging technology investments.

Read more at Yahoo Finance: Mill City Ventures III, Ltd. Announces $450,000,000 Private Placement to Initiate Sui Treasury Strategy