Following a $450 million investment, Mill City Ventures III seeks to solidify its position as the first institutional-grade Sui treasury amid a notable drop in share price.
Mill City Ventures III is aiming to raise up to $500 million through a new equity agreement to expand its Sui token treasury after a recent $450 million investment. The firm's stock dropped over 11% following the announcement, despite a 165% increase since July 24. Mill City has already acquired 76.2 million SUI tokens valued at $276 million and is positioning itself as the only official Sui treasury with backing from the Sui Foundation.