Cosmos Health Inc. (NASDAQ:COSM) shares surged 30.98% to $1.15 after announcing a $300 million financing facility to launch an Ethereum (CRYPTO: ETH) treasury strategy, joining a growing trend of corporations adopting digital asset reserves.
$300 Million Facility Targets ETH Accumulation
The healthcare group secured the senior secured convertible notes facility from a U.S. institutional investor. Under the agreement, 72.5% of net proceeds must go toward building Ethereum reserves, with remaining funds supporting working capital and growth initiatives.
BitGo Trust Company will custody and stake the ETH assets through institutional infrastructure. CEO Greg Siokas called the move “a strategic milestone” providing shareholders direct ETH exposure.
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