Digital Asset Treasury

Propanc Biopharma (PPCB) secured up to $100 million in financing from Hexstone Capital on Oct 15, 2025. The agreement involves issuing Series C convertible preferred stock and warrants, funding clinical pipeline development and digital asset treasury expansion. Conversion price is $5.00 per share, with $99M potential from warrants. Propanc can call up to $5M preferred monthly. The financing aims to grow Propanc’s treasury to $100 million within 12 months. Potential dilution and ownership limits exist; details in SEC filings.

Avalanche Treasury Co. (AVAT) will merge with Mountain Lake Acquisition Corp. (MLAC) in a deal exceeding $675 million, aiming for a Nasdaq listing in Q1 2026. AVAT will invest in the Avalanche ecosystem, managing a digital asset treasury exceeding $1 billion. The deal includes an exclusive agreement with the Avalanche Foundation and values AVAT at 0.77x mNAV, a 23% discount. The merger signifies growing institutional interest in Avalanche, with notable participation from various investors.