Enlivex Therapeutics is trading at $2.11 (down 5.8%) as the market continues to digest yesterday’s surprise $400 million private placement paid in crypto tokens with a single unnamed institutional investor.
- Shares crashed 47% on July 28 following the deal announcement and are seeing follow-through volatility in today's session.
- Investors are raising concerns regarding significant shareholder dilution and the company’s sudden pivot toward a crypto-heavy treasury structure.
- The deal has sparked questions over corporate governance due to the size of the placement and the anonymity of the institutional participant.