Spetz Closes First Tranche of $10 Million Private Placement

Spetz Inc. has announced the completion of the first tranche of its non-brokered private placement, raising $7.35 million by issuing over 14.7 million units at $0.50 each. This financing effort will aid the company's expansion in blockchain infrastructure and general operations. Each unit includes one common share and half a warrant, allowing holders to purchase additional shares at $0.75 for two years.

CEO Mitchell Demeter emphasized strong investor support, with participation from entities like Canaccord Genuity and Sonic Labs. The funds will back Sonic token acquisition, infrastructure development, and DeFi strategies within the Sonic ecosystem.

The placement continues until June 23, 2025, potentially adding $2.65 million. Commissions totaled $315,812, and additional warrants were issued to dealers. A related party transaction involved Michael Kron, a director, acquiring 100,000 units.