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MEI Pharma (MEIP) Becomes the First and Only Publicly Traded LTC Holder on a National Exchange

MEI Pharma, Inc. (NASDAQ:MEIP) is one of the hot penny stocks to invest in nowOn July 18, MEI Pharma, Inc. (NASDAQ:MEIP) announced securities purchase agreements for a private investment in public equity (PIPE) for the sale and purchase of 29,239,767 shares of common stock at a price of $3.42 per share.

A modern pharmaceutical laboratory with research scientists working at their desks.

The expected aggregate gross proceeds for the transaction come up to approximately $100 million before the exclusion of placement agent fees and other estimated offering expenses.

MEI Pharma, Inc. (NASDAQ:MEIP) has plans to use all of the net proceeds for the launch of its treasury strategy focused on Litecoin. The transaction is thus a notable milestone for the company’s long-term strategic plan, establishing MEI Pharma, Inc. (NASDAQ:MEIP) as the first and only publicly traded company to adopt Litecoin as a treasury reserve asset.

Often referred to as “silver to Bitcoin’s gold,” Litecoin is a peer-to-peer cryptocurrency that Charlie Lee created in October 2011. The integration of Litecoin into its treasury operations has allowed MEI Pharma, Inc. (NASDAQ:MEIP) access to a decentralized monetary asset that complements its cash management framework.

MEI Pharma, Inc. (NASDAQ:MEIP) is a pharmaceutical company that develops pharmaceutical compounds. Its programs include Voruciclib and ME-344.

While we acknowledge the potential of MEIP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MEIP and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

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In fact, Verge argues this company’s supercheap AI technology should concern rivals.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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