PITTSBURGH, 2025 – Predictive Oncology Inc. (Nasdaq: POAI), a company leveraging artificial intelligence for cancer drug discovery, announced today that it has priced two private placement transactions totaling approximately $344.4 million. The capital will fund the company’s new digital asset treasury strategy, with its principal holding being ATH, the native utility token of the decentralized GPU network Aethir.
The transactions, expected to close on or about October 2, 2025, consist of a cash offering and an in-kind cryptocurrency contribution. This strategic move positions Predictive Oncology to establish what it describes as the world’s first Strategic Compute Reserve, leveraging Aethir’s global network for AI infrastructure. In a related governance change, Shawn Matthews, CEO of DNA Holdings and former CEO of Cantor Fitzgerald, will join the Predictive Oncology Board of Directors upon the closing of the private placement.
Transaction Structure and Capital Allocation
The company detailed the two components of its capital raise. The first, termed the “Cash PIPE,” involves the sale of approximately 66.7 million shares of common stock (or pre-funded warrants in lieu thereof) at a purchase price of $0.7751 per share, generating aggregate gross proceeds of approximately $51.7 million.
The second, more substantial component is the “Crypto PIPE.” This involves the issuance of pre-funded warrants to purchase up to 223.6 million shares of common stock in exchange for an in-kind contribution of Aethir tokens with a notional value of approximately $292.7 million. The company stated it intends to use the ATH tokens to fund its digital asset treasury strategy and will use the cash proceeds primarily to acquire additional ATH tokens on the open market, further supporting this new strategic direction.
“Our partnership with Aethir represents a seminal event for Predictive Oncology and we believe it creates an outstanding opportunity for the Company and our shareholders to solidify and expand our core business while embarking upon an incremental growth opportunity through our digital asset treasury strategy,” commented Raymond Vennare, Chief Executive Officer and Chairman of the Board of Predictive Oncology.
The Aethir Ecosystem and Strategic Rationale
Aethir is a leading AI decentralized physical infrastructure network (“DePIN”) developed by DCI Foundation, a Panama foundation company which provides graphics processing units (“GPUs”) as-a-Service at enterprise scale for applications including artificial intelligence computation, gaming and cloud workloads. The company’s pivot to a digital asset treasury is centered on the Aethir ecosystem, which operates one of the world’s largest decentralized GPU networks. Aethir offers enterprise-grade AI infrastructure, claiming 40–80% cost savings compared to traditional cloud providers. Its network spans 435,000 GPU containers across more than 200 locations in 93 countries, providing global access to Nvidia GPUs-as-a-Service.
Predictive Oncology’s planned asset treasury strategy will see it managing a significant holding of ATH tokens. The tokens are integral to the Aethir ecosystem, providing utility, rewards, and access to high-end GPU compute resources. Within the network, compute providers stake ATH as collateral to ensure service level adherence and enable rapid deployment.
“With the planned adoption of the Company’s digital asset strategy, we will be able to establish the world’s first Strategic Compute Reserve. The Company will act not just as a digital asset treasury, but through its planned holdings of ATH, it will be able to function as an operator on the Aethir ecosystem that we believe will strengthen Aethir’s ability to provide the global infrastructure layer for the future of AI,” said Dan Wang, Co-Founder and CEO of Aethir.
A key incentive for the company’s market purchases is a grant mechanism from the DCI Foundation. For each ATH token Predictive Oncology purchases on the open market, the Foundation will grant the company an additional 20% of the number of ATH tokens purchased. This model is designed to link the ATH token’s value directly to real-world infrastructure demand.
Corporate Strategy and Future Outlook
Despite this significant foray into digital assets, the company emphasized its continued commitment to its core AI and machine learning business focused on expediting early drug discovery for cancer patients. The capital raise and new treasury strategy are positioned as complementary initiatives that could provide additional growth vectors and strengthen the company’s financial position.
DNA Holdings Venture, Inc., led by incoming board member Shawn Matthews, will serve as the company’s strategic advisor and consultant for the digital asset treasury. The involvement of a former major financial institution CEO signals the serious intent behind this strategic shift. H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placements.
The pre-funded warrants issued in the Crypto PIPE will become exercisable immediately following the company’s receipt of shareholder approval for their exercise. The transactions are being conducted as private placements under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, meaning the securities have restrictions on their re-offer and re-sale in the United States.
This announcement represents one of the most substantial corporate adoptions of a digital asset treasury strategy by a publicly-traded company to date, particularly within the life sciences sector. The success of this asset treasury strategy will be closely watched by both the biotech and digital asset industries as a test case for corporate cryptocurrency adoption.