Following a recent $450 million investment, Mill City aims to solidify its position as the first institutional-grade Sui treasury, despite a notable drop in share price.
Mill City Ventures III is seeking to raise $500 million through an equity agreement to expand its Sui token treasury after a $450 million investment. The stock fell 11.4% to $4.91 post-announcement, despite a 165% increase since July 24. The firm aims to establish itself as the only institutional-grade Sui treasury with official backing from the Sui Foundation, having purchased 76.2 million SUI tokens for $276 million.