Alpha Modus Holdings Inc. (NASDAQ: $AMOD) shares fell sharply Thursday after the Nasdaq-listed AI company advanced a transaction that would add 3,170 Bitcoin (CRYPTO: $BTC) to its balance sheet, creating a crypto position worth more than $200 million at the company's stated valuation.
AMOD dropped about 29% to $2.72 in morning trading, giving the company an intraday market capitalization of roughly $18.9 million. The reaction put the scale of the proposed Bitcoin position in focus, with the ******* ets being added worth more than ten times the company's equity value at the time.
Alpha Modus said the transaction values Bitcoin at $71,000 per token. Under an agreement signed Aug. 26 with non-U.S. investors, the company would issue roughly 51.6 million Class A shares and warrants covering another 51.6 million shares in exchange for the 3,170 BTC.
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AMOD dropped about 29% to $2.72 in morning trading, giving the company an intraday market capitalization of roughly $18.9 million. The reaction put the scale of the proposed Bitcoin position in focus, with the ******* ets being added worth more than ten times the company's equity value at the time.
Alpha Modus said the transaction values Bitcoin at $71,000 per token. Under an agreement signed Aug. 26 with non-U.S. investors, the company would issue roughly 51.6 million Class A shares and warrants covering another 51.6 million shares in exchange for the 3,170 BTC.
More From Cryptoprowl:
Bernstein Forecasts Bitcoin Will Reach $150,000 By Mid-2027
#Bitcoin #shares #company #modus
2 months ago
