Mega Matrix Inc. announced today that it has filed a $2 billion universal shelf registration statement with the U.S. Securities and Exchange Commission. The filing supports its stablecoin governance token DAT strategy as the company aims to become the largest player in this space.
This comes after Mega Matrix pinpointed Ethena’s governance token $ENA as the focal point for its strategy the previous week. The company will use this fundraising method to mobilize funds for the systematic acquisition of the best stablecoin governance tokens.
Management considers the governance tokens as part of the digital money systems, which have economic value as well as voting rights in the decision-making processes in the stablecoin communities. If the approval is issued, the shelf registration will allow Mega Matrix to issue and sell up to $2 billion in securities.
Stablecoin push drives Mega Matrix securities plan
These will relate to Class A ordinary shares, preferred shares, debt securities, warrants, units, or units combined with these other securities. Offerings will depend on market conditions, the company’s need for capital, and applicable regulations. Individual terms and prices will not be determined until the offering date, by the prospectus registered with the SEC.
The company sees taking this move as its chance to expand its presence in the growing stablecoin space. By launching the concept of a governance token treasury, Mega Matrix aims to obtain financial potential as the company helps to develop future growth in digital assets.
This approach aligns with its broader growth strategy as it positions itself at the intersection of technology and finance. The company has filed the registration, but it has not taken effect yet. Until regulators approve it, the company will not sell or issue the securities. It will describe subsequent sales in the official prospectus supplements and carry them out in full compliance with regulations.
Sale awaits regulatory approval for Mega Matrix
The prospectus also stated that the filing itself is not an offer or solicitation to sell or buy the securities. No sale will occur until the registration becomes effective and in compliance with the states and the federal securities law. Mega Matrix is a holding company with headquarters in Singapore.
Aside from its stablecoin governance token businesses, it runs FlexTV, a short-video streaming platform and drama production company, through its subsidiary Yuder Pte. Ltd. The new fundraising channel is a significant milestone for Mega Matrix in its transition away from media businesses toward assuming an expanded role in digital finance.
