Lion Group Holding Ltd. (NASDAQ: LGHL) announced a $9.98 million private placement deal, of which approximately $8 million will be used to purchase Bitcoin for the company’s reserve fund. The capital raise was executed through an amended securities purchase agreement and a convertible bond structure, reflecting the view that the current market presents a good opportunity to buy BTC.
CEO Wilson Wang stated that adding Bitcoin aims to strengthen the balance sheet with a liquid, widely recognized asset, while also complementing investments in the Hyperliquid (HYPE) ecosystem and other digital assets. The deal is expected to close around December 5, 2025, with Chardan acting as the placement agent. Lion affirmed this as a long-term digital asset reserve strategy, though acknowledged volatility risks—a factor that caused LGHL shares to drop 15.77% to $4.38 as the market reacted cautiously.
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