Enlivex Seeks 951% Stock Dilution to Hoard Illiquid Crypto Token

Enlivex, a Nasdaq-listed biotechnology company, is seeking shareholder approval to dilute its stock by up to 951% as part of a deal to acquire large amounts of the illiquid RAIN token. The financing structure would increase Enlivex's share count by four to five times its current outstanding shares.

The initial $400 million placement could equal around 66.7 million to 80 million share equivalents, with payment entirely in cash or stablecoins representing a dilution of 396% to 475%. If the optional second tranche is used in full, the total new share equivalents would reach approximately 133.3 million at the RAIN price or 160 million at the cash-like price.

Enlivex plans to use substantially all net proceeds paid in USD, USDT, or USDC for acquiring RAIN and other treasury purposes, with only up to 5% of remaining USD net proceeds allocated for funding its biotech business Allocetra. The company has committed to holding a shareholder vote within 60 days.