Amber International Holdings Ltd., a Singapore-based crypto financial services firm, has successfully raised over $25 million through private placement aimed at supporting its crypto reserve strategy.
Funds Raised Through Private Placement
Amber International Holdings Ltd. announced that it successfully raised $25.5 million through a private placement to support a $100 million crypto reserve strategy. The placement was priced at $10.45 per share, a 5% discount from its three-day average trading price. Over 12 million Class A shares were issued, supported by a group of institutional investors.
Financial Performance of Amber International
According to the first half of 2024, the company reported revenue of $14.22 million with a net loss of $8.81 million. The second half of 2024 showed revenue growth to $18.54 million, but the net loss increased to $22.86 million. The company's current market capitalization stands at $76.33 million.
Current Crypto Market Updates
As of publishing, the total crypto market capitalization was $3.35 trillion with a loss of 1.02%. Bitcoin is trading at $108,995, down by 0.80% in the last 24 hours. Top gainers include Zcash, Pudgy Penguins, and others, while losers include Jupiter, Pepe, and Algorand.
Amber International Holdings continues to push forward with its initiatives in the crypto space amidst fluctuating financial results and market changes.
