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Enlivex Raises $212 Million to Build RAIN Token Treasury, Plans Matteo Renzi Board Appointment

The Nasdaq-listed biotech says the private placement will fund a treasury centered on the Arbitrum-based prediction-markets token.

RAIN token pumps 100% as Enlivex announces $212M funding for RAIN treasury strategy
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Overview

  • The PIPE covers 212,000,000 shares at $1.00 each, an 11.5% premium to Nov. 21’s close, with funding in U.S. dollars and USDT and BTIG as placement agent.
  • Enlivex intends to accumulate RAIN as its primary reserve asset, positioning itself as the first U.S.-traded public company offering investors exposure to prediction markets.
  • The transaction is expected to close on or before Nov. 25 subject to customary conditions, and Matteo Renzi’s board appointment will follow the closing.
  • RAIN, the token of a permissionless prediction and options protocol on Arbitrum with a buyback-and-burn model, jumped roughly 100–120% after the news, according to market reports.
  • Alongside the financing plan, Enlivex reported six‑month Phase 2a Allocetra data showing sustained pain reduction and improved function versus placebo in older knee osteoarthritis patients.