ProPhase Labs completes $3 million rights issue to support its cryptocurrency asset reserve strategy

According to Golden Finance, Nasdaq listed company ProPhase Labs announced that it has issued priority guaranteed convertible notes to two investors to raise $3 million. This financing provides the company with bridge funding to support its upcoming cryptocurrency reserve strategy to acquire specific digital assets, including Bitcoin. In addition, the company will also explore the acquisition (or reverse merger) of a company focused on digital asset operations.