Sui development team will repurchase preferred shares and SUI Token warrants from FTX for $96.3 million.

According to court documents, on March 24th, Mysten Labs reached an agreement with FTX debtors to repurchase FTX's equity investment in Mysten Labs and SUI Token warrants for $96.3 million in cash. This means that FTX creditors will be able to recover more assets. Prior to finalizing the deal with Mysten, FTX debtors retained investment bank Perella Weinberg Partners (PWP) to solicit interest from other potential buyers. As previously reported by BlockBeats, on September 8, 2022, Sui development team Mysten Labs completed a $300 million financing round, led by FTX Ventures, with participation from a16z Crypto, Jump Crypto, A&T Capital, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Bixin Ventures, Circle Ventures, and Lightspeed Venture Partners. In this financing round, FTX invested $101 million, acquiring approximately 570,000 preferred shares in Mysten Labs and warrants to purchase approximately 890 million SUI Tokens. FTX paid approximately $101 million for the equity investment and an additional $1 million for the Token subscription warrants.