Canadian crypto infrastructure company Luxxfolio has filed a preliminary shelf prospectus to raise up to CAD$100 million ($73 million) as it deepens its Litecoin-focused strategy and attempts to stabilize its balance sheet.
Key Takeaways:
Luxxfolio filed to raise up to $73 million as it deepens its Litecoin treasury strategy.
The company aims to acquire 1 million LTC by 2026, with Charlie Lee now on its advisory board.
Despite ambitions, Luxxfolio faces mounting losses and warned of survival risks without new funding.
The filing, submitted Thursday with Canadian regulators (excluding Québec), will allow Luxxfolio to issue a mix of securities, including shares, debt, and warrants, over a 25-month window.
Luxxfolio CEO Says Capital Raise Will Boost Flexibility and Litecoin Expansion
CEO Tomek Antoniak said the move gives the company “financial flexibility” to scale operations and accelerate Litecoin adoption.
“In our sector, scale is critical — the larger our treasury, infrastructure, and ecosystem footprint, the greater our ability to capture market share,” Antoniak said in the company’s announcement.
The fundraising plan comes just months after Luxxfolio became the first publicly traded company to formally anchor its corporate treasury in Litecoin.
The firm began disclosing its Litecoin purchases in July and has outlined an ambitious goal of acquiring 1 million LTC by 2026.
Litecoin creator Charlie Lee joined the company’s advisory board in June, further cementing its alignment with the 12-year-old blockchain network.
Despite its strategic pivot, Luxxfolio’s financials show signs of strain. In its most recent quarterly report, the company posted a Q2 net loss of $197,000, up from just $8,000 a year earlier.
Over the nine-month period ending that quarter, losses more than doubled year-over-year.
With only $112,000 in cash on hand as of the quarter’s end, the company relied on an $844,000 private placement to remain operational.
Since its founding in 2017, Luxxfolio has accumulated nearly $19 million in total losses. Its management has already flagged “significant doubt” about the company’s ability to continue without securing new capital.
The shelf prospectus, once finalized, is intended to give the company room to raise capital quickly as market conditions shift, and as it attempts to grow its Litecoin infrastructure footprint despite mounting financial pressure.
Galaxy, Jump, and Multicoin Plan $1B Solana Treasury Bet
As reported, Galaxy Digital, Jump Crypto, and Multicoin Capital are in talks to raise around $1 billion to build the largest Solana treasury to date.
Bloomberg reported that Cantor Fitzgerald has been tapped as the lead banker, with the Solana Foundation backing the deal, which could close in early September.
The plan involves taking over a publicly traded company and converting it into a digital asset treasury vehicle dedicated to Solana.
Likewise, Pantera Capital is preparing to raise as much as $1.25 billion to transform a Nasdaq-listed company into “Solana Co.,” a public vehicle built to accumulate Solana (SOL) as a treasury asset
The plan reportedly involves an initial $500 million raise, followed by $750 million through warrants.
If completed, it would mark one of the largest dedicated efforts to create a public Solana treasury vehicle.
The move follows Pantera’s disclosure earlier this month that it has already deployed about $300 million into digital asset treasury (DAT) firms.
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