mF International Closes $500 Million Private Placement to Launch Digital Asset Treasury Strategy

Rhea-AI Summary

mF International (Nasdaq: MFI) announced it closed a $500.0 million private placement on Dec. 1, 2025, issuing 50 million Class A ordinary shares and pre-funded warrants at $10.00 per share or pre-funded warrant.

Net proceeds will be used primarily to advance a digital asset treasury strategy, including acquiring Bitcoin Cash (BCH) and other select cryptocurrencies, with remaining funds for general corporate purposes. Management described the raise as enhancing financial flexibility to execute a cycle-adaptive treasury approach focused on returns and risk management.

Positive

• $500.0 million gross proceeds closed
• Issued 50 million Class A shares and pre-funded warrants
• Proceeds earmarked for digital asset treasury including BCH

Negative

• Issuance of 50 million shares/warrants may dilute existing shareholders
• Concentration in cryptocurrencies (including BCH) introduces crypto exposure

News Market Reaction

-21.64%

8 alerts

-21.64% News Effect

+4.8% Peak Tracked

-41.0% Trough Tracked

-$11M Valuation Impact

$38M Market Cap

0.4x Rel. Volume

On the day this news was published, MFI declined 21.64%, reflecting a significant negative market reaction. Argus tracked a peak move of +4.8% during that session. Argus tracked a trough of -41.0% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $11M from the company's valuation, bringing the market cap to $38M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Private placement size: $500.0 million Shares/warrants issued: 50 million Purchase price: $10.00 +5 more

8 metrics

Private placement size $500.0 million Aggregate gross proceeds from Dec. 1, 2025 closing

Shares/warrants issued 50 million Class A ordinary shares and pre-funded warrants issued

Purchase price $10.00 Per Class A ordinary share or pre-funded warrant in placement

Shelf capacity US$700,000,000 Maximum under Form F-3 shelf registration

Pre-news share price $18.04 Latest price before article, 24h change -3.39%

52-week high $60.73 Pre-news 52-week high level

52-week low $4.0808 Pre-news 52-week low level

Market capitalization $907,439,722 Pre-news market cap

Market Reality Check

Price: $13.21 Vol: Volume 28,820 is well bel...

low vol

$13.21 Last Close

Volume Volume 28,820 is well below the 20-day average of 188,596 ahead of this announcement. low

Technical Shares trade below the 200-day moving average of 22.19, at 18.04 pre-news.

Peers on Argus

Peers in Software - Application showed mixed moves (e.g., PHUN +0.49%, AWRE +2.8...

Peers in Software - Application showed mixed moves (e.g., PHUN +0.49%, AWRE +2.87%, UPLD -1.20%), suggesting today’s setup was more stock-specific than sector-driven.

Historical Context

4 past events · Latest: Dec 01 (Neutral)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Dec 01	Private placement close	Neutral	-21.6%	Closed $500M private placement and detailed crypto-focused treasury use.
Nov 25	Executive transition	Neutral	+18.0%	CEO change aligned with launch of digital asset treasury strategy.
Nov 21	Private placement deal	Neutral	+3.1%	Announced $500M PIPE for BCH acquisition and treasury operations.
Nov 21	Correction filing	Neutral	+3.1%	Corrective release restating $500M PIPE terms and intended use.

Pattern Detected

Recent news has centered on the same $500M private placement and digital asset treasury shift, with price reactions ranging from gains around initial announcement to a sharp drop on today’s closing disclosure.

Recent Company History

Over late 2025, mF International repeatedly focused on a $500.0 million private placement and a new digital asset treasury strategy. On Nov. 21, it announced the PIPE terms and intended BCH-focused use of proceeds. A correction the same day reiterated those details. On Nov. 25, leadership shifted to Dawei Yuan as CEO alongside the strategy launch. By Dec. 1, the company reported closing the financing, after which the stock showed a -21.64% 24‑hour move.

Regulatory & Risk Context

Active S-3 Shelf · US$700,000,000

Shelf Active

Active S-3 Shelf Registration 2025-11-04

US$700,000,000 registered capacity

An effective Form F-3 shelf, as amended on Nov. 4, 2025, permits mF International to offer up to US$700,000,000 of securities over time for general corporate purposes, providing ongoing capital-raising flexibility in addition to the completed $500.0 million private placement.

Market Pulse Summary

The stock dropped -21.6% in the session following this news. A negative reaction despite the company...

Analysis

The stock dropped -21.6% in the session following this news. A negative reaction despite the company highlighting enhanced financial flexibility would fit prior trading around this deal, where the closing announcement corresponded with a -21.64% move. The completed $500.0 million private placement adds significant new equity and pre-funded warrants, and the company also has a US$700,000,000 shelf on file. Repeated capital-raising capacity, combined with exposure to digital assets, could amplify concerns about dilution and volatility.

Key Terms

private placement, pre-funded warrants, Bitcoin Cash (BCH)

3 terms

private placement financial

"it has closed the private placement previously announced on November 21, 2025"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

pre-funded warrants financial

"through the issuance of 50 million Class A ordinary shares and pre-funded warrants"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

Bitcoin Cash (BCH) technical

"including the acquisition of Bitcoin Cash (BCH) and other select cryptocurrencies"

Bitcoin Cash (BCH) is a digital currency that runs on a distributed computer network and is designed to function like electronic cash for peer-to-peer payments, aiming for lower fees and faster confirmations than some other cryptocurrencies. Investors watch BCH because its value can move sharply based on user adoption, merchant acceptance, network technical changes and regulatory news, so it behaves like a speculative asset or an alternative payment currency without any central bank backing.

AI-generated analysis. Not financial advice.

HONG KONG, Dec. 1, 2025 /PRNewswire/ -- mF International Limited (Nasdaq: MFI) ("mF International" or the "Company") today announced that it has closed the private placement previously announced on November 21, 2025 (the "Private Placement"), raising aggregate gross proceeds of $500.0 million through the issuance of 50 million Class A ordinary shares and pre-funded warrants at a purchase price of $10.00 per Class A ordinary share or pre-funded warrant.

The net proceeds will be used primarily to advance the Company's digital asset treasury strategy, including the acquisition of Bitcoin Cash (BCH) and other select cryptocurrencies, with the balance allocated to general corporate purposes.

Mr. Dawei Yuan, Chief Executive Officer of mF International, stated, "The successful closing of this $500.0 million Private Placement marks a pivotal milestone in our strategic evolution. This capital enhances our financial flexibility to execute a disciplined, cycle-adaptive digital asset treasury strategy focused on optimizing returns, managing risk, and creating long-term value for our shareholders. By strategically diversifying our balance sheet, we are well-positioned to capitalize on the accelerating institutional adoption of digital assets."

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About mF International Limited

mF International Limited is a British Virgin Islands holding company with three operating subsidiaries in Hong Kong. The Company's principal Hong Kong operating subsidiary, m-FINANCE, is a Hong Kong-based experienced financial trading solution provider principally engaged in the development and provision of financial trading solutions via internet or platform as software as a service, or SaaS. mF has announced its plans to initiate a digital asset treasury strategy, which will include investments in BCH (Bitcoin Cash) and other digital assets. For more information, please visit the Company's website: https://ir.m-finance.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.

For investor and media inquiries, please contact:

mF International Limited
Investor Relations Department
Email: ir@m-finance.net

ICR, LLC
Email: mFInternational.IR@icrinc.com 

View original content:https://www.prnewswire.com/news-releases/mf-international-closes-500-million-private-placement-to-launch-digital-asset-treasury-strategy-302629279.html

SOURCE mF International Limited

FAQ

What did mF International (MFI) announce on December 1, 2025?

mF International closed a $500.0 million private placement issuing 50 million Class A shares and pre-funded warrants at $10.00 each.

How will mF International (MFI) use the $500 million raised?

Net proceeds will primarily fund a digital asset treasury strategy, including purchases of Bitcoin Cash (BCH), with the remainder for general corporate purposes.

How many new shares did mF International (MFI) issue in the private placement?

The company issued 50 million Class A ordinary shares and pre-funded warrants in the offering.

What is the purchase price per share in mF International's (MFI) private placement?

The purchase price was $10.00 per Class A ordinary share or pre-funded warrant.

Does the private placement create immediate dilution for MFI shareholders?

Yes; issuance of 50 million shares and pre-funded warrants represents potential dilution to existing shareholders.

Will mF International (MFI) buy Bitcoin Cash (BCH) with the proceeds immediately?

The company said proceeds will be used to acquire BCH and other select cryptocurrencies as part of its treasury strategy; no specific purchase timing was provided.