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ENDRA Life Sciences Announces At-Market Private Placement of Up to $14.4 Million to Launch Digital Asset Treasury Strategy Managed by Leading Crypto Asset Manager Arca
Company Also Intends to Appoint Jeff Dorman to Digital Asset Advisory Board ANN ARBOR, Mich.--(BUSINESS WIRE)-- ENDRA Life Sciences Inc. (Nasdaq: NDRA)
About this update from Endra Life Sciences Inc.
[{"type":"text","content":"\nCompany Also Intends to Appoint Jeff Dorman to Digital Asset Advisory Board\n\n\n ANN ARBOR, Mich.--(BUSINESS WIRE)--\nENDRA Life Sciences Inc. (Nasdaq: NDRA) (“ENDRA” or the “Company”), a pioneer in imaging technologies for the early detection and monitoring of metabolic dysfunction associated liver disease (“MASLD”) and metabolic dysfunction associated steatohepatitis (“MASH”), today announced an aggregate of $4.9 million in commitments for a private placement (the “Offering”) led by leading institutional and cryptocurrency investors. The proceeds will be used to launch a digital asset treasury (“DAT”) strategy directed at the highest conviction holdings of Arca Investment Management, LLC (“Arca”) in the DeFi sector, beginning with the cryptocurrencies of the pioneering decentralized exchanges and protocols, with a focus on perpetual futures such as HYPE.\n\n\nPursuant to the securities purchase agreement, the investors have agreed to purchase 744,340 shares of common stock (or prefunded warrants in lieu thereof) and accompanying warrants to purchase up to 1,488,680 shares of common stock. The warrants will be exercisable immediately at an exercise price of $6.32 per share and will expire in five years. Each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrants were sold at a combined purchase price of $6.57. The pre-funded warrants will have an exercise price of $0.0001 per share of common stock, be immediately exercisable and remain exercisable until exercised. The Offering is expected to close on or about October 14, 2025, subject to the satisfaction of customary closing conditions.\n\n\nIf all warrants are fully exercised for cash, the Company will receive total gross proceeds of up to $14.4 million. No assurance can be given that any of such warrants will be exercised. The Company intends to allocate the majority of net proceeds from this transaction to establish ENDRA’s DAT operations and accumulate cryptocurrency, with the balance earmarked for completion of the TAEUS pilot validation imaging study focused on MASLD/MASH.\n\n\nLucid Capital Markets acted as sole placement agent for the Offering.\n\n\nTo strengthen governance and deepen expertise, ENDRA also announced that it intends to add Jeff Dorman to its Digital Asset Advisory Board. As Arca’s Chief Investment Officer, Mr. Dorman l...