Market Newsdesk

MINNEAPOLIS, June 23, 2025 (GLOBE NEWSWIRE) —

SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), the largest publicly traded holder of ETH in the world, today announced that the Company’s common stock has been approved for options trading on the Nasdaq Options Market (“Nasdaq”).

Trading in SharpLink’s options commenced on June 18, 2025 under the ticker symbol “SBET” and include a range of standard expiration dates and strike prices. This listing of options is expected to expand investor access and may enhance liquidity in the Company’s shares, providing investors with added flexibility to manage risk, leverage positions and express views on the Company’s future stock performance. SharpLink believes this milestone reflects continued growth in investor interest and confidence in the Company’s long-term strategic outlook.

“We view this approval as a significant achievement that underscores our evolving profile as a trusted Nasdaq-listed company,” stated Rob Phythian, CEO of SharpLink Gaming. “Moreover, we believe the commencement of options trading will enhance our visibility within the investment community, at large, and provide our shareholders with additional tools for managing their investments.”

Options trading on SharpLink will be available through the Options Clearing Corporation (“OCC”), and will be subject to standard rules and regulations established by Nasdaq and the OCC.

About SharpLink Gaming, Inc.

Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is the world’s largest publicly traded company to adopt Ethereum (ETH) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to the world’s leading smart-contract platform and second largest digital asset.

SharpLink is also reimagining the future of online gaming and sports betting. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the betting experience. By leveraging smart contracts, DeFi protocols and Web3 infrastructure, SharpLink intends to assume the lead in transforming the multi-billion-dollar iGaming industry into a more dynamic, efficient and equitable ecosystem. Learn more at www.sharplink.com.

Forward-Looking Statement

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, fluctuations in the market price of ETH and any associated impairment charges that the Company may incur as a result of a decrease in the market price of ETH below the value at which the Company’s ETH are carried on its balance sheet, changes in the accounting treatment relating to the Company’s ETH holdings, the Company’s ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations such as accounting rules as discussed below, customer acceptance of new products and services including our ETH treasury strategy, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the income statement results. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.

Contact details:
Investor and Media Relations:
[email protected]

GAITHERSBURG, Md., June 23, 2025 (GLOBE NEWSWIRE) — Emergent BioSolutions Inc. (NYSE: EBS) today announced it has been awarded a $62.4 million contract modification from the Administration for Strategic Preparedness and Response (ASPR), a division of the United States Department of Health and Human Services (HHS) for BAT^® [Botulism Antitoxin Heptavalent (A, B, C, D, E, F, G) – (Equine)]. The modification has been made to the existing 10-year contract with ASPR (75A50119C00075) whereby Emergent will supply BAT^®, an antitoxin used in the treatment of symptomatic botulism following suspected or confirmed exposure to botulinum neurotoxin serotypes A, B, C, D, E, F, or G in both adults and pediatric patients.

“The ongoing commitment by the U.S. government to stockpile BAT^® reinforces the importance of Emergent’s medical countermeasures to help protect military and civilian populations,” said Paul Williams, senior vice president, head of products business, global government & public affairs at Emergent. “We are proud to harness our North American supply chain and capabilities to deliver life-saving solutions that safeguard public health and strengthen global emergency preparedness.”

This update is a critical step toward preserving access to medical countermeasures to address potential biological threats from botulism. The types and quantities of products that should be maintained in a stockpile will depend on the population requiring protection, the products available for meeting the threat, as well as government resources and priorities.

About BAT

^®

 [Botulism Antitoxin Heptavalent (A, B, C, D, E, F, G) – (Equine)]

BAT^® is a mixture of immune globulin fragments indicated for the treatment of symptomatic botulism following documented or suspected exposure to botulinum neurotoxin serotypes A, B, C, D, E, F, or G in adults and pediatric patients. The effectiveness of BAT is based solely on efficacy studies conducted in animal models of botulism.

The Warnings and Precautions for BAT include:

• Severe hypersensitivity reactions, including anaphylaxis, as well as delayed allergic reactions, including serum sickness may occur following BAT administration. Prepare for monitoring and management of allergic reactions. 
• Infusion reactions. These reactions may be related to the infusion rate of BAT.
• Interference with blood glucose testing. Because BAT contains maltose, interference with non-glucose specific blood sugar testing systems can occur. Use glucose-specific testing systems.
• Transmissible infections agents. BAT is made from equine plasma and may contain infectious agents, e.g. viruses.

There is no human or animal data for use of BAT during pregnancy. BAT should only be given to pregnant and nursing women if the potential benefits outweigh the potential risks. It is not known whether BAT is excreted in human milk. The safety and efficacy of BAT has not been established in pediatric and geriatric populations. Only limited safety data exists for pediatric populations.

The most common adverse reactions observed in ≥5% of healthy volunteers in clinical trials were headache, nausea, pruritus, and urticaria. The most common adverse reactions reported in ≥1% of patients in a clinical study were pyrexia, rash, chills, nausea, and edema. One serious adverse reaction of hemodynamic instability was observed in one patient in the clinical study.

Please see full Prescribing Information for BAT for additional safety information.

About Emergent BioSolutions 

At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify. 

Safe Harbor Statement

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statements regarding the development, availability, and government procurement of BAT^® are forward-looking statements. We generally identify forward-looking statements by using words like “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “should,” “will,” “would,” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. Forward-looking statements are based on our current intentions, beliefs, and expectations regarding future events based on information that is currently available. We cannot guarantee that any forward-looking statement will be accurate. Readers should realize that if underlying assumptions prove inaccurate or if known or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events, or circumstances. Readers should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the U.S. Securities and Exchange Commission, when evaluating our forward-looking statements.

Investor Contact:

Richard S. Lindahl
Executive Vice President, CFO
[email protected]

Media Contact:

Assal Hellmer
Vice President, Communications
[email protected]

NEEDHAM, Mass., June 23, 2025 (GLOBE NEWSWIRE) — Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a clinical-stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, today announced the appointment of Charles Schoch as Chief Financial Officer (CFO). Mr. Schoch, who has served as interim CFO of Candel since January 2024, will transition to the CFO role permanently, effective immediately.

“Charles has demonstrated exceptional financial and organizational leadership during his tenure as interim CFO,” said Paul Peter Tak, M.D., Ph.D., FMedSci, President and Chief Executive Officer of Candel. “He has effectively supported our strategic priorities in a complex market environment while maintaining disciplined capital management. His deep understanding of our business will continue to be instrumental as we advance our clinical pipeline, prepare for our Biologics License Application submission for CAN-2409 in localized prostate cancer, and execute on our near- and long-term corporate goals.”

Since joining Candel in November 2021, Mr. Schoch has served in various financial reporting and accounting positions of increasing responsibility, most recently as VP of Finance and Corporate Controller, before being named interim CFO in January 2024. In his interim CFO role, Mr. Schoch developed significant investment banking relationships and has led the company through engagements with top-tier institutional investors, culminating in a previously-announced capital raise with net proceeds of approximately $86 million following the disclosure of positive results in the phase 3 clinical trial of CAN-2409 in localized prostate cancer in December 2024. In January 2025, he was promoted to Senior VP. During his time at Candel, Mr. Schoch has built a high-performing finance function that oversees Candel’s financial close process, internal controls, SEC reporting, financial planning, procurement, payroll, and treasury operations. Mr. Schoch has also worked closely with Candel’s executive leadership team on investor relations, business development, and financing initiatives.

Prior to joining Candel, Mr. Schoch served as Corporate Controller at Corbus Pharmaceuticals from 2019 to 2021. Before Corbus, he spent seven years in PwC’s Health Industry assurance practice where he served a diverse group of audit clients, ranging from pre-IPO to multinational public companies within the life sciences sector. Earlier in his career, Mr. Schoch worked for several Third Rock Venture portfolio companies as a financial and operational consultant. Mr. Schoch holds an M.B.A. and M.S.A. from Northeastern University and a B.S. in business administration with a concentration in finance from Elon University.

“I am honored to continue serving in this role and excited about the opportunities that lie ahead for Candel,” commented Mr. Schoch. “Our strong financial foundation and disciplined approach to capital allocation and value creation position us well for sustainable growth. As we advance our promising clinical pipeline and prepare for key milestones, my focus remains on maintaining financial stability while strategically investing in our future. I look forward to working with our talented team on our goals of driving value for our stakeholders and ultimately helping to deliver clinically meaningful solutions to cancer patients in need.”

About Candel Therapeutics

Candel is a clinical-stage biopharmaceutical company focused on developing off-the-shelf multimodal biological immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Candel has established two clinical-stage multimodal biological immunotherapy platforms based on novel, genetically modified adenovirus and herpes simplex virus (HSV) gene constructs, respectively. CAN-2409 is the lead product candidate from the adenovirus platform.

The Company recently completed successful phase 2a clinical trials of CAN-2409 in non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC), and a pivotal phase 3 clinical trial of CAN-2409 in localized prostate cancer, conducted under a Special Protocol Assessment (SPA) agreed with the U.S. Food and Drug Administration (FDA). CAN-2409 plus prodrug (valacyclovir) has been granted Fast Track Designation by the FDA for the treatment of PDAC, stage III/IV NSCLC in patients who are resistant to first line PD-(L)1 inhibitor therapy and who do not have activating molecular driver mutations or have progressed on directed molecular therapy and localized primary prostate cancer. The FDA most recently also granted Regenerative Medicine Advanced Therapy (RMAT) Designation to CAN-2409 for the treatment of newly diagnosed localized prostate cancer in patients with intermediate-to-high-risk disease and Orphan Drug Designation to CAN-2409 for the treatment of PDAC.

CAN-3110 is the lead product candidate from the HSV platform and is currently in an ongoing phase 1b clinical trial in recurrent high-grade glioma (rHGG). Initial results were published in Nature and CAN-3110 received Fast Track Designation and Orphan Drug Designation from the FDA. Finally, Candel’s enLIGHTEN™ Discovery Platform is a systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapies for solid tumors.

For more information about Candel, visit: www.candeltx.com

Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding the timing and advancement of current and future development programs, expectations regarding the submission of the BLA for CAN-2409 in intermediate-to-high-risk localized prostate cancer; and expectations regarding the therapeutic benefit of the Company’s platforms, including the ability of its platforms to improve overall survival and/or disease-free survival of patients living with difficult to treat, solid tumors. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those risks and uncertainties related to the timing and advancement of development programs; expectations regarding the therapeutic benefit of the Company’s programs; that final data from the Company’s preclinical studies and completed clinical trials may differ materially from reported interim data from ongoing studies and trials; the Company’s ability to efficiently discover and develop product candidates; the Company’s ability to obtain and maintain regulatory approval of product candidates; the Company’s ability to maintain its intellectual property; the implementation of the Company’s business model, including strategic plans for the Company’s business and product candidates; and other risks identified in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, each as filed with the SEC and any subsequent filings with the SEC. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent the Company’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.

Investor Contact:

Theodore Jenkins
VP, Investor Relations and Business Development
Candel Therapeutics, Inc.
[email protected]

Media Contact:

Ben Shannon
ICR Healthcare
[email protected]

– Comes less than a year after listing on Nasdaq –

KENMORE, N.Y., June 23, 2025 (GLOBE NEWSWIRE) — Firefly Neuroscience, Inc. (“Firefly” or the “Company”) (NASDAQ: AIFF), an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced that it will be added to the Russell Microcap^® Index as part of this year’s reconstitution. The additions will be made effective after the U.S. market opens on June 30, 2025.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell’s U.S. indexes serve as the benchmark for approximately $10.6 trillion in assets as of the close of June 2024. Russell indexes are part of FTSE Russell, the global index provider.

“Being included among the companies that comprise the Russell indexes is a major milestone for Firefly, which we believe reflects the significant progress we have made since completing our reverse merger and listing on Nasdaq less than a year ago,” said Greg Lipschitz, CEO of Firefly. “So far in 2025 alone, we have: discovered a breakthrough cognitive brain age biomarker using our FDA-cleared BNA™ Platform; been accepted into the prestigious NVIDIA Connect program; achieved multi-fold database, IP portfolio, and commercial footprint expansion through our acquisition of Evoke Neuroscience; and, uncovered a powerful new way of objectively distinguishing between subjective cognitive decline, mild cognitive impairment, and dementia in Alzheimer’s patients.”

Mr. Lipschitz added, “Moving forward, our membership in the Russell Microcap^® Index should increase our visibility among both institutional and retail investors at a pivotal time as we continue to execute our growth plans and work to achieve the many potential value-creating milestones we see ahead.”

Each index within the Russell U.S. Indexes is reconstituted each year to capture the 4,000 largest U.S. stocks as of April 30, ranking them by total market capitalization and grouping them according to certain criteria. Membership in the Russell Microcap^® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

About Firefly
Firefly (NASDAQ: AIFF) is an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly’s FDA-510(k) cleared Brain Network Analytics (BNA™) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance. The Company is now launching BNA™ commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use.

Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly’s extensive proprietary database of standardized, high-definition longitudinal electroencephalograms (EEGs) of over 17,000 patients representing twelve disorders, as well as clinically normal patients. BNA™, in conjunction with an FDA-cleared EEG/ERP system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician’s ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and/or drug is best suited to optimize a patient’s outcome.

Please visit https://fireflyneuro.com/ for more information.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly’s management teams’ expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to those factors described under the heading “Risk Factors” in the reports and other filings of Firefly with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of Firefly’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Investor & Media Contact

Stephen Kilmer
(646) 274-3580
[email protected]   

SANTA ANA, Calif., June 23, 2025 (GLOBE NEWSWIRE) — NKGen Biotech, Inc. (OTC: NKGN) (“NKGen” or the “Company”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic natural killer (“NK”) cell therapeutics, today announced the activation of two additional clinical trial sites for its ongoing Phase 1/2a trial evaluating troculeucel, cryopreserved expanded autologous NK cell therapy, in patients with moderate Alzheimer’s disease (“AD”). An activated clinical site refers to a site that has completed all necessary preparations, such as staff training and protocol set up, enabling the site to begin recruiting and enrolling patients. Site activation is key to initiating patient recruitment and ensuring the trial advances as planned. The newly activated sites, Ottawa Memory Clinic in Canada and AdventHealth Orlando in Florida, USA, are now open for patient enrollment, broadening access and accelerating recruitment for the trial.

NKGen received clearance from Health Canada for its Clinical Trial Application (“CTA”), as disclosed in a prior press release, thus allowing the inclusion of Canadian patients in the Phase 1/2a trial (link). In Canada, the Ottawa Memory Clinic, a leader in Alzheimer’s disease research, will serve as a key site for Canadian patients. The AdventHealth Orlando site, led by Dr. Anita Fletcher, also previously disclosed in a prior press release, strengthens the trial’s presence on the U.S. East Coast (link).

The Ottawa Memory Clinic site will be led by Richard Bergeron, M.D., Ph.D., a renowned neuroscientist with a deep background in neurodegenerative disease research, particularly Alzheimer’s disease. Dr. Bergeron has overseen more than 60 clinical trials, from early safety studies to large-scale pivotal trials, and is recognized for his work in both disease-modifying and symptomatic treatments. As Founder and CEO of both the Ottawa and Montreal Memory Clinics, Dr. Bergeron brings a wealth of expertise in managing international, multi-site neurodegenerative disease trials.

“We are thrilled to welcome Dr. Bergeron to our global clinical trial team,” said Dr. Paul Y. Song, M.D., Chairman and Chief Executive Officer at NKGen. “ His expertise in Alzheimer’s disease research will be invaluable as we expand patient trial access to troculeucel and work toward fulfilling our enrollment goals. As Alzheimer’s is a global health problem, we are committed to working with more international experts and clinical sites. The activation of the U.S. East Coast and Canadian sites is a step towards expanding the geographic footprint of our Phase 1/2a trial, enhancing patient diversity and trial efficiency.”

More information on the trial, including contact details for the newly activated sites, can be found at www.clinicaltrials.gov website: NCT06189963

About Troculeucel

Troculeucel is a novel cell-based, patient specific, ex vivo expanded autologous NK cell immunotherapeutic drug candidate. NKGen is developing troculeucel for the treatment of neurodegenerative disorders and a broad range of cancers. Troculeucel is the International Nonproprietary Name (“INN”) for SNK01 assigned by the World Health Organization (“WHO”). The WHO INN approval of troculeucel establishes a universally recognized nonproprietary drug name for SNK01 and marks a significant step on NKGen’s journey toward bringing this therapy to market.

About Richard Bergeron, M.D., PhD., FRCPC

Dr. Richard Bergeron is a neuroscientist and psychiatrist with extensive experience in clinical trials for neurodegenerative diseases, particularly Alzheimer’s disease. As Founder and CEO of the Ottawa and Montreal Memory Clinics, he has led over 60 clinical trials ranging from early-phase safety studies to late-stage pivotal trials, focusing on disease-modifying therapies and symptomatic treatments. With a strong academic background, including a Ph.D. from McGill and postdoctoral training at Harvard, Dr. Bergeron integrates clinical care with research to advance early diagnosis and access to innovative therapies for cognitive disorders

About Ottawa Memory Clinic

The Ottawa Memory Clinic is a leading Canadian center specializing in the early diagnosis, treatment, and research of neurodegenerative diseases, particularly Alzheimer’s disease and mild cognitive impairment (MCI). Since its establishment, the clinic has become a key site for industry-sponsored and academic clinical trials, contributing to the development of new therapeutic approaches for cognitive decline.

About NKGen Biotech

NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic NK cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Forward-Looking Statements 

Statements contained in this press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Because such statements are patient to risks and uncertainties, many of which are outside of the Company’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the Company’s plans and expected timing for developing troculeucel and SNK02, including the expected timing of completing and announcing further results from its ongoing clinical studies; and the Company’s expected timing for developing its product candidates and potential benefits of its product candidates. Risks that contribute to the uncertain nature of the forward-looking statements include: the Company’s ability to execute its plans and strategies; risks related to performing clinical studies; the risk that initial and interim results of a clinical study do not necessarily predict final results and that one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data, and as more patient data become available; potential delays in the commencement, enrollment and completion of clinical studies and the reporting of data therefrom; the risk that studies will not be completed as planned; the risk that the abstract will not be published as planned including delays in timing, format, or accessibility; and NKGen’s ability to raise additional funding to complete the development of its product candidates. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in the Company’s filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website at www.sec.gov and on the Company’s website under the subheading “Investors—Financial and Filings”. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Internal Contact:

Denise Chua, MBA, CLS, MLS (ASCP)
SVP, Corporate Affairs
949-396-6830
[email protected]

External Contacts:

Kevin Gardner
Managing Director
LifeSci Advisors, LLC
[email protected]

• ProCap Financial
  to strategically acquire bitcoin and generate revenue and profits from its bitcoin holdings
• Equity investors have immediate exposure to bitcoin based on structure of financing transactions
• Columbus Circle Capital Corp. I (NASDAQ: CCCM) to take ProCap Financial public

New York, NY, June 23, 2025 (GLOBE NEWSWIRE) — American investor and entrepreneur Anthony Pompliano today announced that ProCap BTC, LLC, a bitcoin-native financial services firm, has entered into a definitive agreement for a business combination with Columbus Circle Capital Corp. I (NASDAQ: CCCM), a SPAC sponsored by a controlled subsidiary of Cohen & Company, Inc.

At the closing of the proposed business combination, the combined company will operate as ProCap Financial, Inc., with up to $1 billion in bitcoin on its balance sheet. Entities in the proposed transaction raised $516.5 million in equity and $235 million in convertible notes, the largest initial fundraise in history for a public bitcoin treasury company.

Leading institutional and bitcoin-native investors participating in the financing transactions include Magnetar Capital, Woodline Partners LP, Anson Funds, RK Capital, Off the Chain Capital, Parafi, Blockchain.com, Arrington Capital, BSQ Capital Partners, and FalconX. Industry veterans such as Mark Yusko, Jason Williams, Eric Semler, Tony Guoga, and Matteo Franceschetti participated as well.

ProCap Financial aims to become the leading financial services firm at the intersection of bitcoin and traditional finance. ProCap Financial plans to use its bitcoin balance sheet to generate revenue and profit through a variety of strategies.

ProCap Financial will be led by Anthony Pompliano, who has invested in more than 300 private companies and is one of the leading voices on bitcoin globally.

“The legacy financial system is being disrupted by bitcoin,” said Pompliano. “ProCap Financial represents our solution to the increasing demand for bitcoin-native financial services among sophisticated investors. Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our bitcoin holdings.”

“From day one we sought to partner with a platform and a leader that could develop a transformative organization – and we found that in ProCap BTC and Anthony Pompliano,” said Gary Quin, CEO of CCCM. “Anthony’s track record as an innovative investor, operator, and early advocate in the bitcoin ecosystem speaks for itself. We believe his deep expertise and relentless conviction will help continue to transform an industry undergoing rapid evolution.”

Terms of the Proposed Business Combination and Financing Transactions

The proposed business combination (the “Business Combination”) between ProCap BTC, LLC (“ProCap BTC”) and Columbus Circle Capital Corp. I (“CCCM”) will result in ProCap Financial, Inc. (“ProCap Financial”) being a publicly listed company. In connection with the Business Combination, ProCap BTC sold $516.5 million of non-voting preferred units to investors in a private placement (the “Preferred Equity Raise”) and ProCap Financial secured commitments for $235 million in senior secured convertible notes (the “Convertible Notes”) from investors in a private placement (the “Convertible Debt Raise”, together with the Business Combination and the Preferred Equity Raise, the “Proposed Transactions”). At the closing of the Business Combination (the “Closing”), any funds remaining in the CCCM trust account will be delivered to ProCap Financial. The full proceeds of the CCCM Trust Account, assuming no trust redemptions at or prior to Closing, is included in the up to $1 billion expected to be used to purchase bitcoin for ProCap Financial’s balance sheet.

The Preferred Equity Raise was funded contemporaneously with the execution of the definitive agreements. ProCap BTC agreed to purchase bitcoin (the “BTC Assets”) using the aggregate amount of funds raised in the Preferred Equity Raise within fifteen days of the date of signing the definitive agreements. The BTC Assets will be held in a custodial account until the completion of the Business Combination, providing future shareholders of ProCap Financial with immediate exposure to bitcoin rather than waiting until after the Closing.

The Convertible Notes will be funded at the close of the Business Combination and have a 130% conversation rate, zero interest rate, and maturity of up to 36 months. The Convertible Notes will be 2x collateralized by cash, cash equivalents or a portion of the bitcoin purchased with the proceeds from the Proposed Transactions. U.S. Bank National Trust, N.A. will serve as collateral agent and trustee with regard to the Convertible Notes and associated indenture and guarantee arrangements.

At the Closing, former security holders of CCCM and former unit holders of ProCap BTC (“ProCap Holders”) will receive, as consideration in the Business Combination, newly-issued securities of ProCap Financial. The number of ProCap Financial shares issuable to the ProCap Holders at Closing will depend on the value of the BTC Assets measured as of a date shortly before the Closing, subject to a cap, and provided, also, that the ProCap Holders that are investors in the Preferred Equity Raise (as defined herein) will, at a minimum, receive such number of ProCap Financial shares as represents 1.25 times the number of preferred units delivered to such investors upon consummation of the Preferred Equity Raise, based on the trade weighted average price of the BTC Assets, as further described in the definitive agreements for the Proposed Transactions (the “Transaction Agreements”).

Prior to entering into the definitive agreement, the proposed Business Combination has been approved by the board of directors of CCCM and by the board of managers of ProCap BTC. The terms of the Transaction Agreements, including covenants and conditions to Closing reasonably customary for similar transactions, including that the Proposed Transactions and their terms be approved by requisite CCCM shareholders and by the sole voting unit holder of ProCap BTC, an entity owned and controlled by Pompliano.

The parties expect to consummate the Proposed Transactions prior to the end of 2025, after the submission for review by the U.S. Securities & Exchange Commission (the “SEC”) of a registration statement on Form S-4 to register applicable securities issuable by ProCap Financial upon consummation of the proposed Business Combination. The parties intend to take actions necessary for the Convertible Notes, upon issuance in connection with the Closing, to have an associated 144A CUSIP number on the issue date to facilitate potential post-Closing trading amongst QUIBS, but are not expected to otherwise be registered or tradeable.

The terms of the Proposed Transactions described in this release, including any dollar-denominated figures or implied valuations, are based on information as of the date of the signing of the Transaction Agreements and assume no redemptions from the CCCM trust account. These terms are subject to change, including as a result of fluctuations in the price of bitcoin prior to Closing. There can be no assurance that the final terms at Closing will reflect the figures referenced herein.

Advisors

Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC (“Cohen & Company”) is acting as exclusive financial advisor to ProCap BTC.

Cohen & Company and Clear Street LLC are serving as joint co-placement agents in connection with the Preferred Equity Raise and Convertible Debt Raise.

Reed Smith LLP is acting as legal advisor for ProCap BTC, LLC and ProCap Financial, Inc. in connection with the Proposed Transactions.

Ellenoff Grossman & Schole LLP is acting as legal advisor to CCCM in connection with the Proposed Transactions. Ogier is acting as special Cayman Islands counsel to CCCM.

Morgan, Lewis & Bockius LLP is acting as legal advisor to the joint co-placement agents in connection with the Preferred Equity Raise and Convertible Debt Raise.

About ProCap BTC, LLC and ProCap Financial, Inc.

ProCap BTC, LLC is a bitcoin-native financial services firm founded by Anthony Pompliano. Pompliano has invested in more than 300 private companies and is one of the leading voices on bitcoin globally. ProCap Financial, Inc., the company resulting from the proposed Business Combination, will focus on implementing various profit-generating products and services to support the unique financial needs of large financial institutions and institutional investors.

About Columbus Circle Capital I

Columbus Circle Capital Corp. I (NASDAQ: CCCM) is a Cayman Islands–incorporated blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company is led by Chairman and CEO Gary Quin, a veteran investment banker with over 25 years of experience in cross-border M&A, private equity, and capital markets; COO Dan Nash, a skilled investment banker, with a strong track record in SPAC execution and building high-growth advisory platforms; and CFO Joseph W. Pooler, Jr., who brings decades of public company financial leadership. The board of directors includes Garrett Curran, Alberto Alsina Gonzalez, Dr. Adam Back, and Matthew Murphy.

About Cohen & Company

Cohen & Company is J.V. B. Financial Group, LLC’s full-service boutique investment bank based in New York City that provides high-touch services across strategic advisory, mergers & acquisitions, and capital markets transactions. Cohen & Company merges boutique attentiveness with institutional scale. Learn more at https://www.cohencm.com/.  J.V. B. Financial Group, LLC is an indirect controlled subsidiary of Cohen & Company Inc, a financial services company specializing in an expanding range of capital markets and asset management services. Cohen and Company Inc has approximately $2.3 billion of assets under management. 

About Clear Street

Clear Street Investment Banking provides a full suite of strategic advisory, transactions and creative capital solutions to companies and investors across high-growth sectors including technology, healthcare, energy and beyond. Clear Street Investment Banking is part of Clear Street, the cloud-native financial services firm delivering financing, derivatives, execution and more to power client success. Learn more at https://www.clearstreet.io/investment-banking.

Additional Information and Where to Find It

ProCap Financial, Inc. (“ProCap Financial”) and Columbus Circle Capital Corp. I (“CCCM”) intend to file with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 (as may be amended, the “Registration Statement”), which will include a preliminary proxy statement of CCCM and a prospectus (the “Proxy Statement/Prospectus”) in connection with the proposed business combination between ProCap BTC, LLC (“ProCap BTC”) and CCCM (the “Proposed Transactions”). The definitive proxy statement and other relevant documents will be mailed to shareholders of CCCM as of a record date to be established for voting on the Proposed Transactions and other matters as described in the Proxy Statement/Prospectus. ProCap Financial and/or CCCM will also file other documents regarding the Proposed Transactions with the SEC. This communication does not contain all of the information that should be considered concerning the Proposed Transactions and is not intended to form the basis of any investment decision or any other decision in respect of the Proposed Transactions. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SHAREHOLDERS OF CCCM AND OTHER INTERESTED PARTIES ARE URGED TO READ, WHEN AVAILABLE, THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, AND AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH CCCM’s SOLICITATION OF PROXIES FOR THE EXTRAORDINARY GENERAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE PROPOSED TRANSACTIONS AND OTHER MATTERS AS DESCRIBED IN THE PROXY STATEMENT/PROSPECTUS BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT CCCM, PROCAP BTC, PROCAP FINANCIAL AND THE PROPOSED TRANSACTIONS. Investors and security holders will also be able to obtain copies of the Registration Statement and the Proxy Statement/Prospectus and all other documents filed or that will be filed with the SEC by CCCM and ProCap Financial, without charge, once available, on the SEC’s website at www.sec.gov or by directing a request to: Columbus Circle Capital Corp. I, 3 Columbus Circle, 24th Floor New York, NY 10019, e-mail: [email protected]; or upon written request to ProCap Financial, Inc., 600 Lexington Ave., Floor 2, New York, NY 10022.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE PROPOSED TRANSACTIONS DESCRIBED HEREIN, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR ANY RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS COMMUNICATION. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

The offer and sale of the convertible notes to be issued by ProCap Financial and the preferred units of ProCap BTC sold in connection with the Proposed Transactions has not been registered under the Securities Act of 1933, as amended (the “Securities Act”) and such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933.

Participants in Solicitation

CCCM, ProCap BTC, ProCap Financial and their respective directors, executive officers, certain of their shareholders and other members of management and employees may be deemed under SEC rules to be participants in the solicitation of proxies from CCCM’s shareholders in connection with the Proposed Transactions. A list of the names of such persons, and information regarding their interests in the Proposed Transactions and their ownership of CCCM’s securities are, or will be, contained in CCCM’s filings with the SEC, including the final prospectus for CCCM’s initial public offering filed with the SEC on May 19, 2025. Additional information regarding the interests of the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of CCCM’s shareholders in connection with the Proposed Transactions, including the names and interests of ProCap BTC’s and ProCap Financial’s respective directors or managers and executive officers, will be set forth in the Registration Statement and Proxy Statement/Prospectus, which is expected to be filed by ProCap Financial and CCCM with the SEC. Investors and security holders may obtain free copies of these documents as described above.

No Offer or Solicitation

This communication and the information contained herein is for informational purposes only and is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transactions and shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange the securities of CCCM or ProCap Financial, or any commodity or instrument or related derivative, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act.

Forward-Looking Statements

This communication contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to the Proposed Transactions involving ProCap Financial, ProCap BTC, and CCCM, including expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding ProCap BTC, ProCap Financial, CCCM and the Proposed Transactions, statements regarding the anticipated benefits and timing of the completion of the Proposed Transactions, the assets held by ProCap BTC and ProCap Financial, the price and volatility of bitcoin, bitcoin’s growing prominence as a digital asset and as the foundation of a new financial system, ProCap Financial’s listing on any securities exchange, the macro and political conditions surrounding bitcoin, the planned business strategy including ProCap Financial’s ability to develop a corporate architecture capable of supporting financial products built with and on bitcoin including native lending models, capital market instruments, and future innovations that will replace legacy financial tools with bitcoin-aligned alternatives, plans and use of proceeds, objectives of management for future operations of ProCap Financial, the upside potential and opportunity for investors, ProCap Financial’s plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, technological and market trends, future financial condition and performance and expected financial impacts of the Proposed Transactions, the satisfaction of closing conditions to the Proposed Transactions and the level of redemptions of CCCM’s public shareholders, and ProCap Financial’s expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “potential,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including, but not limited to: the risk that the Proposed Transactions may not be completed in a timely manner or at all, which may adversely affect the price of CCCM’s securities; the risk that the Proposed Transactions may not be completed by CCCM’s business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the Proposed Transactions, including the approval of CCCM’s shareholders; failure to realize the anticipated benefits of the Proposed Transactions; the level of redemptions of the CCCM’s public shareholders, which may reduce the public float of, reduce the liquidity of the trading market of, and/or maintain the quotation, listing, or trading of the Class A ordinary shares of CCCM or the shares of common stock of ProCap Financial to be listed in connection with the Proposed Transactions; the insufficiency of the third-party fairness opinion for the board of directors of CCCM in determining whether or not to pursue the Proposed Transactions; the failure of ProCap Financial to obtain or maintain the listing of its securities on any securities exchange after closing of the Proposed Transactions; risks associated with CCCM, ProCap BTC and ProCap Financial’s ability to consummate the Proposed Transactions timely or at all, including in connection with potential regulatory delays or impediments, changes in bitcoin prices or for other reasons; costs related to the Proposed Transactions and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to ProCap Financial’s anticipated operations and business, including the highly volatile nature of the price of bitcoin; the risk that ProCap Financial’s stock price will be highly correlated to the price of bitcoin and the price of bitcoin may decrease between the signing of the definitive documents for the Proposed Transactions and the closing of the Proposed Transactions or at any time after the closing of the Proposed Transactions; asset security and risks associated with CCCM, ProCap BTC and ProCap Financial’s ability to consummate the Proposed Transactions timely or at all, including in connection with potential regulatory delays or impediments, changes in bitcoin prices or for other reasons; risks related to increased competition in the industries in which ProCap Financial will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding bitcoin; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the Proposed Transactions, ProCap Financial experiences difficulties managing its growth and expanding operations; the risks that launching and growing ProCap Financial’s bitcoin treasury advisory and services in digital marketing and strategy could be difficult; challenges in implementing ProCap Financial’s business plan, due to operational challenges, significant competition and regulation; being considered to be a “shell company” by any stock exchange on which ProCap Financial’s common stock will be listed or by the SEC, which may impact ProCap Financial’s ability to list ProCap Financial’s common stock and restrict reliance on certain rules or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings that may be instituted against ProCap Financial, ProCap BTC, CCCM or others following announcement of the Proposed Transactions, and those risk factors discussed in documents that ProCap Financial and/or CCCM filed, or that will be filed, with the SEC.

The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the final prospectus of CCCM dated as of May 15, 2025 and filed by CCCM with the SEC on May 19, 2025, CCCM’s Quarterly Reports on Form 10-Q and CCCM’s Annual Reports on Form 10-K that will be filed by CCCM from time to time, the Registration Statement that will be filed by ProCap Financial and CCCM and the Proxy Statement/Prospectus contained therein, and other documents that have been or will be filed by CCCM and ProCap Financial from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither CCCM nor ProCap Financial presently know or that CCCM and ProCap Financial currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of CCCM, ProCap BTC, and ProCap Financial assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither CCCM, ProCap BTC, nor ProCap Financial gives any assurance that any of CCCM, ProCap BTC, or ProCap Financial will achieve their respective expectations. The inclusion of any statement in this communication does not constitute an admission by CCCM, ProCap BTC or ProCap Financial or any other person that the events or circumstances described in such statement are material.

The terms of the Proposed Transactions described in this communication, including any dollar-denominated figures or implied valuations, are based on information as of the date of the signing of the definitive business combination agreement and assume no redemptions from the CCCM trust account. These terms are subject to change, including as a result of fluctuations in the price of bitcoin prior to closing of the Proposed Transactions. There can be no assurance that the final terms at Closing will reflect the figures referenced herein.

Media Contacts

Ebony Lewkovitz
[email protected] 

Larissa Bundziak
[email protected] 

[email protected]