BRIEF: Amber Int’l to use $25.5 million from Pantera, others to fund strategic reserve

Amber International Holding Ltd. (AMBR.US) said on Thursday that it will use new funds from its recently unveiled $25.5 million private placement to further enhance its $100 million “crypto ecosystem reserve,” and also to expand its institutional crypto services in the growth markets of the U.S. and Southeast Asia.

Under the placement, Amber is selling 12.2 million Class A ordinary shares, equal to about 2.44 million ADSs, based on the company’s ratio of 5 ordinary shares to each ADS. The subscription price is $10.45 per ADS, representing a 5% discount to the average price between June 25 and June 27 just before the original fundraising announcement.

Others participating in the placement include Mile Green, Harvest Capital, Pantera Capital, CMAG Funds, Choco Up and Kingkey Financial International (1468.HK). Mile Green, led by Thai conglomerate CP Group’s Chatchaval Jiaravanon, is set to provide additional support for Amber’s expansion in Southeast Asia.

Amber said it will use the new funds to support its strategic investments in cryptocurrencies with high potential such as bitcoin, ethereum and solana, as part of the development of its cryptocurrency reserve.

Amber International provides crypto financial services and solutions targeting institutional investors and high-net-worth individuals to optimize their digital asset portfolios. The Singapore-based company was listed on the Nasdaq in March this year. 

By Teri Yu

The Bamboo Works offers a wide-ranging mix of coverage on U.S.- and Hong Kong-listed Chinese companies, including some sponsored content. For additional queries, including questions on individual articles, please contact us by clicking here

To subscribe to Bamboo Works free weekly newsletter, click here