ZeroStack announces $1 billion MemeCore strategic transaction

ZeroStack Corp. has entered a roughly $1 billion strategic transaction with MemeCore principals Puple AI Inc. and Blockcat Pte. Ltd., who are contributing 925,925,926 $M tokens valued at $1.08 each. In return, the Nasdaq-listed company is issuing 3.5 million common shares and pre-funded warrants for up to 36,198,293 additional shares at $25.19 each, more than twelve times recent trading levels. An SEC Form 8-K said the deal closed on Aug. 19 with tokens marked at Aug. 14 fair value, while MemeCore’s Aug. 20 announcement described a definitive agreement expanding public-market and decentralized AI ties. MemeCore principal Rudy Rong is being appointed president of ZeroStack in connection with the transaction. Warrant shares require shareholder approval under Nasdaq Listing Rule 5635 and face a lock-up of up to ten years; full exercise could bring about $912 million and expand the share count by roughly 39.7 million including the initial issuance. ZeroStack, which also runs pharmaceutical distribution through Phatebo GmbH and holds 0G exposure, plans to pair that position with $M. Investors remain focused on MemeCore liquidity, token concentration, and the premium equity terms, amid earlier skepticism including warnings about M’s price history.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.