Japanese clothing chain Mac House announces purchase of approximately $12 million worth of crypto assets

PANews reported on June 19 that according to CoinDesk, Japanese clothing chain Mac House has completed fundraising by allocating new stock reservation rights to third parties, with a total amount of 2.391 billion yen (about 16.42 million U.S. dollars), exceeding the original plan of 1.476 billion yen (about 10.13 million U.S. dollars). The company said that the funds raised exceeded expectations because the average exercise price of the new stock reservation rights was higher than expected. Among them, up to 1.715 billion yen (about 11.77 million U.S. dollars) will be used to purchase crypto assets such as Bitcoin, a significant increase from the previously planned 800 million yen.

Previously, Mac House announced the launch of a new strategy of "finance, investment, and M&A business" on June 12, and revealed that it would invest in crypto assets. In order to officially promote investment, the company announced organizational changes on the same day, setting up a new "Digital Asset Operation Group" in the management headquarters to be responsible for crypto assets and stock investment and risk management.