Shares of publicly traded brain machine and artificial intelligence company VisionSys AI (VSA) plunged more than 77% on Wednesday following information that the company will sell its shares in a registered direct offering.
The company expects to generate approximately $12 million in proceeds from the sale, but did not say how the proceeds will be used. VSA, whose stock price was recently $0.29 per share, was already down on Tuesday, plummeting more than 88% in five days at the time of writing. Wednesday’s low of about $0.24 per share is VSA’s lowest since January, according to Yahoo Finance.
In October, Visionsys stock fell about 40% after the company’s acquisition. Announces intention to create Solana Treasury The company is valued at up to $2 billion, and the company focused on acquiring $500 million worth of SOL stock in the first six months.
It is not immediately clear whether VisionSys AI is still pursuing that goal, as the company has not reported the SOL acquisition to date. A company representative did not immediately respond. decryption Request for comments.
Visionsys’ Solana treasury was to be funded through a “diversified model that combines structured finance and equity,” a representative said. decryption In October.
The company also announced a partnership with Marinade Finance, a Solana DeFi protocol that operates a staking delegation platform that manages over $2 billion in assets, to build a digital asset treasury.
A representative for Marinade Finance did not immediately respond. decryption We request comment on the status of our relationship with VisionSys.
If VisionSys could build a $2 billion Solana vault; The company is Solana’s largest listed holder— outpacing Forward Industries, which manages over 6.8 million SOL worth more than $1 billion at the time of writing.
of the company Latest SEC filings This indicates that the chairman of the board, Xiaoyun Han, has resigned from the company due to personal reasons.
Solana has fallen over 6% in the past 24 hours and is currently trading at $153. The sixth-largest cryptocurrency by market capitalization is currently down nearly 48% from its all-time high of $293.31 in January.
Myriad Predictor—Products decryption Parent company Dastan believes the asset has only a 10% chance of reaching a new high by the end of the year.
