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Safety Shot Launches BONK Holdings to Oversee $63M Memecoin Treasury

Safety Shot Launches BONK Holdings to Oversee $63M Memecoin Treasury

Safety Shot strengthens its BONK strategy with $25M in tokens and $35M in convertible preferred stock, while adding industry leaders Jamie McAvity, Connor Klein, and Stacey Duffy to its treasury board.

BONK

Summary

Safety Shot, Inc. expanded its BONK operations by forming a strategic alliance with Bonk’s founding contributor and adding Jamie McAvity, Connor Klein, and Stacey Duffy to its BONK treasury company board. The firm secured $25 million worth of BONK tokens in exchange for issuing $35 million in convertible preferred stock, further enhancing its $63 million BONK treasury position.

Terms & Concepts
  • BONK: A Solana-based memecoin with a fixed circulating supply, often traded for speculative purposes in the cryptocurrency market.
  • Treasury Holdings: A company’s reserve of assets — in this case, cryptocurrency — maintained for strategic, investment, or operational purposes.
  • Convertible Preferred Stock: A type of preferred equity that can be converted into common stock under specified conditions, often used in financing deals.