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yesterday

GD Culture to Acquire 7,500 Bitcoin in Share Swap as Stock Sinks on Dilution Fears

Investor concern over heavy share issuance drove a sharp selloff following the disclosure.

Gd culture to acquire pallas capital assets, adding 7,500 bitcoin to treasury
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Overview

  • GDC signed a definitive share-exchange to acquire Pallas Capital by issuing 39,189,344 new shares, with 7,500 BTC to transfer to GDC upon closing.
  • The company valued the Bitcoin at about $876.8 million based on its cited price, implying approximately $22.37 of BTC for each share issued in the transaction.
  • Shares fell 28.16% to $6.99 after the news, with market commentary pointing to dilution risk from the large equity issuance.
  • GDC said it obtained the required majority shareholder approval under Nevada law and Nasdaq Listing Rule 5635(d), and that the assets will be transferred free of encumbrances at closing.
  • The planned hoard would rank GDC among the largest public corporate Bitcoin holders, following a May plan to fund crypto purchases with stock within a broader 2025 treasury trend.