MEI Pharma soars after $100 million raise to buy litecoin

Lite Strategy

18/07/2025 14:01

** Drug developer MEI Pharma's MEIP.O shares jump 78.4% to $8.09 premarket

** MEIP announces $100 million private placement to initiate litecoin treasury strategy

** Co sold 29.2 million shares at $3.42 apiece in placement led by crypto trading firm GSR and Charlie Lee

** Lee, who founded crypto token litecoin in 2011, will join MEIP's board

** Titan Partners Group, a division of American Capital Partners, was the sole placement agent

** GSR will be MEIP's digital asset and treasury management advisor

** As of last close, MEIP shares up 82.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))