Japanese clothing chain Mac House has completed fundraising of 2.391 billion yen, of which 1.7 billion will be invested in purchasing Bitcoin and other encryption assets.

[Chain News] On June 19, it was reported that Japanese clothing chain Mac House has completed fundraising through the issuance of new stock subscription rights to a third party, raising a total of 2.391 billion yen (approximately 16.42 million dollars), exceeding the original plan of 1.476 billion yen (approximately 10.13 million dollars). The company stated that the fundraising exceeded expectations due to the average exercise price of the new stock subscription rights being higher than anticipated. Of this amount, up to 1.715 billion yen (approximately 11.77 million dollars) will be used to purchase Bitcoin and other encryption assets, significantly increasing from the previously planned 800 million yen.

Previously, Mac House announced the launch of a new strategy of “finance, investment, and mergers and acquisitions” on June 12, and revealed that it would invest in crypto assets. In order to officially promote the investment, the company announced on the same day that it will make organizational changes and establish a new “Digital Asset Operation Group” in the Management and Management Headquarters to be responsible for crypto asset and stock investment and risk management.