Enlivex Therapeutics signed a $400 million private placement agreement with a single institutional investor. The deal prices shares at a premium to the July 27, 2026, market close.
Subscriptions funded with U.S. dollars or stablecoins are priced at $5.00 per share. Subscriptions using RAIN tokens are priced at $6.00 per share.
The agreement includes a discretionary option for Enlivex to sell an additional $400 million in shares. This option remains available for 36 months under the same terms.
Proceeds will fund a digital asset treasury strategy centered on the Rain protocol. The company also plans to advance its clinical-stage immunotherapy, Allocetra. The transaction is subject to shareholder approval.