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MEI Pharma Inc. (NASDAQ:MEIP) has announced a $100 million private investment to acquire Litecoin, making it the first publicly traded company to adopt LTC as its primary treasury reserve asset. The company is selling 29,239,767 shares at $3.42 each. Charlie Lee, the creator of Litecoin, and GSR are leading the investment. Lee will join MEI’s board of directors, replacing Taheer Datoo upon closing.
GSR will serve as MEI’s digital asset and treasury management advisor. Other investors include the Litecoin Foundation, MOZAYYX, ParaFi, Hivemind, Primitive, RLH Capital, Delta Blockchain, and CoinFund. The deal is expected to close on or about July 22, 2025, subject to customary conditions.
Charlie Lee called MEI’s decision a milestone for Litecoin, emphasizing its speed, security, and decentralization. Josh Riezman, US Chief Strategy Officer at GSR, said the firm is committed to helping institutions safely access digital assets. Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent under a private placement exemption.
