Mill City Eyes Australian Expansion with $500M Equity Deal

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Mill City Ventures III, Ltd. (NASDAQ: MCVT) has announced a major funding agreement that could significantly expand its operations in the Asia-Pacific region, including Australia. The U.S.-based specialty finance firm has secured an equity line agreement with A.G.P./Alliance Global Partners, allowing it to sell up to $500 million worth of its common stock, subject to regulatory conditions and market approvals.

In a press statement, the company confirmed that the equity line does not include any commitment fee, giving Mill City flexible access to capital. Proceeds will be used to expand its position as a blockchain treasury vehicle, specifically aligned with the Sui blockchain – a rising protocol in the digital asset space.

“This equity line is intended to give us the firepower to scale our position as the only Sui treasury on the market with an official Sui Foundation relationship,” said Stephen Mackintosh, Chief Investment Officer of Mill City.

The company says it is exploring entry into Australia’s evolving blockchain landscape, viewing it as a strategically important market in the Asia-Pacific region. Although no official launch has been confirmed, Mill City noted Australia’s growing digital finance sector as a point of interest.

Mill City describes itself as the only publicly traded company with an official partnership with the Sui Foundation. Its core strategy includes providing institutional exposure to the Sui blockchain through regulated financial structures, while continuing its broader specialty finance operations.

Any sales of securities under this new equity line will be conducted under an effective registration statement and subject to applicable securities laws in each jurisdiction, including those in Australia.

The company emphasised that the press release does not constitute an offer to sell or solicitation to buy securities in any jurisdiction, including Australia. It also included standard disclaimers regarding forward-looking statements, noting that outcomes may vary due to several risk factors.

These include fluctuations in the market price of SUI, regulatory changes in digital assets, and the possibility that SUI could be classified as a security by international or Australian regulators.

Australia’s financial regulators, including ASIC and the Reserve Bank, have recently signalled an openness to explore blockchain-based finance while maintaining strict oversight. This regulatory clarity, combined with strong fintech adoption, has reportedly made the country an attractive prospect for global blockchain companies.

Mill City’s move to potentially enter the Australian market will likely depend on regulatory engagement and demand from institutional investors in the region.