OneMedNet Corporation announced it has entered into a securities purchase agreement for a follow-on private placement, resulting in gross proceeds of approximately $1.7 million. This transaction, which closed on September 25, 2024, involved an affiliate of Off the Chain Capital.
The company sold an aggregate of 1,918,591 shares of its common stock at a price of $0.65 per share. Additionally, warrants exercisable for 133,095 shares at $0.325 per share and pre-funded warrants for 743,314 shares at $0.65 per share were part of the offering.
OneMedNet intends to use the net proceeds from this private placement for working capital and general corporate purposes. A portion of these funds is also planned for the purchase of Bitcoin, signaling a strategic shift in treasury management.
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