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3w ago

Mill City Ventures Becomes First Nasdaq-Listed Company With Foundation-Backed Sui Treasury

Leveraging an OTC agreement with the Sui Foundation, the firm has amassed 76 million tokens to provide daily liquid access through its Nasdaq-listed vehicle.

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Mill city ventures secures $500m equity line for sui treasury expansion
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Overview

  • Mill City Ventures used its $450 million private placement to acquire 76.3 million SUI tokens at an average price of $3.6389 per token.
  • The treasury now holds over $277 million in SUI and plans further accumulation through foundation-backed OTC deals and open-market purchases.
  • Marius Barnett and Stephen Mackintosh joined as board chairman and CIO, respectively, with Galaxy Asset Management appointed to oversee the token operations.
  • As the first publicly traded vehicle formally supported by the Sui Foundation, Mill City offers retail and institutional investors direct, daily-liquid exposure to the Sui network.
  • Major backers including Pantera Capital, Electric Capital and Big Brain Holdings underscore growing institutional demand for blockchain-native assets.