Mill City Ventures Acquires an Additional $20 Million in SUI Tokens
According to ChainCatcher, citing The Block, Nasdaq-listed company Mill City Ventures purchased 5.6 million SUI tokens at a discounted average price of $3.65 each from the SUI Foundation, with the total transaction exceeding $20 million.
Mill City currently holds nearly 81.9 million SUI tokens and plans to generate returns by staking SUI. The company previously raised $450 million through private placement and has secured an additional purchase quota of up to $500 million, allowing for dynamic increases in its SUI holdings, including acquisitions from the foundation, secondary markets, and other investors.
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