Safety Shot Forms New Subsidiary To House Digital Asset Strategy; Executes $5M Purchase To Increase BONK Treasury To Over $63M
Benzinga Newsdesk 1 year ago
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Safety Shot, Inc. (NASDAQ:SHOT), today announced a major step in its strategic evolution with the formation of BONK Holdings LLC, (BONK Holdings) a new subsidiary created to house its digital asset strategy.BONK Holdings
Safety Shot, Inc. (NASDAQ:SHOT), today announced a major step in its strategic evolution with the formation of BONK Holdings LLC, (BONK Holdings) a new subsidiary created to house its digital asset strategy.
BONK Holdings has aggressively built its treasury through two previous raises and an additional $5 million purchase executed in partnership with FalconX. BONK Holdings has acquired 228,908,284,661 $BONK at an average cost of 0.00002184. With these acquisitions, the Company now holds over 2.5% of the total circulating supply of BONK, valued at approximately $55 million.
The Company also noted that its 10% revenue sharing interest from the highly profitable letsBONK.fun platform has begun to accrue and will be used to fund ongoing BONK token acquisitions once custody practices are finalized.