Mill City Ventures III, Ltd. has announced a $450 million private fundraising to launch the SUI Treasury Strategy.

BlockBeats News, July 28th, according to stocktitan, non-bank lending institution and financial company Mill City Ventures III, Ltd. (NASDAQ:MCVT) announced that it has entered into a securities purchase agreement to invest in public equity in a private placement at a price of $5.42 per share, purchasing and selling 83,025,830 shares of common stock, with expected total proceeds of approximately $450 million (excluding placement agent fees and other offering expenses). Hedge fund Karatage is acting as the lead investor, with the Sui Foundation also providing a matching investment. The offering is expected to close around July 31, 2025. The company plans to use approximately 98% of the net proceeds from the private placement to acquire SUI, the native token of the Sui blockchain, and approximately 2% of the net proceeds to support the company's short-term lending business. SUI will serve as the company's primary financial reserve asset.