---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-098082"
form_type: "8-K"
ticker: "CYPH"
cik: "0001509745"
company_name: "CYPHERPUNK TECHNOLOGIES INC."
filed_at: "2025-10-09T23:59:59+00:00"
generated_at: "2026-05-17T04:10:51.734346+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Leap Therapeutics closes $58.9M private placement led by Winklevoss Capital to pursue digital asset treasury

## Summary
- Gross proceeds of ~$58.88M from sale of 15.2M shares, 80.8M pre-funded warrants, and 72.0M common warrants.
- Winklevoss Capital leads the deal; gets right to nominate two board members, one of whom will serve as chair.
- Proceeds to fund a digital asset treasury strategy and continue development of FL-501 and sirexatamab.
- Common warrants priced at $0.5335/share, 10-year term; pre-funded warrants exercisable at $0.001/share with no expiration.
- Parcrest serves as placement agent; receives $1.5M fee ($1M cash plus warrants for 4M shares).

## SEC filing metadata
- accession: 0001104659-25-098082
- form_type: 8-K
- ticker: CYPH
- cik: 0001509745
- company_name: CYPHERPUNK TECHNOLOGIES INC.
- filed_at: 2025-10-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1509745/000110465925098082/0001104659-25-098082-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1509745/000110465925098082/tm2528058d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-098082
- JSON: https://secwatch.observer/filing/0001104659-25-098082.json
- Plain text: https://secwatch.observer/filing/0001104659-25-098082.txt

## Key facts
- Equity Issuances
  CYPHERPUNK TECHNOLOGIES INC. issued up to an aggregate of 80,768,504 shares of Common Stock of warrant to investors named therein for offering price of $0.51964 per Pre-Funded Warrant.
  - Security: warrant
  - Shares: up to an aggregate of 80,768,504 shares of Common Stock
  - Purchaser: investors named therein
  - Consideration: offering price of $0.51964 per Pre-Funded Warrant
  source text: ”) of (i) an aggregate of 15,212,311 shares (the “ Shares ”) of common stock of the Company, par value $0.001 per share (the “ Common Stock ”), at an offering price of $0.52064 per share, (ii) pre-funded warrants (the “ Pre-Funded Warrants ”) to purchase up to an aggregate of 80,768,504 shares of Common Stock (the “ Pre-Funded Warrant Shares ”) at an
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509745/000110465925098082/0001104659-25-098082-index.htm
- Equity Issuances
  CYPHERPUNK TECHNOLOGIES INC. issued 15,212,311 shares of common stock to investors named therein for $0.52064 per share.
  - Security: common stock
  - Shares: 15,212,311 shares
  - Purchaser: investors named therein
  - Consideration: $0.52064 per share
  source text: ”) of (i) an aggregate of 15,212,311 shares (the “ Shares ”) of common stock of the Company, par value $0.001 per share (the “ Common Stock ”), at an offering price of $0.52064 per share, (ii) pre-funded warrants (the “ Pre-Funded Warrants ”) to purchase up to an aggregate of 80,768,504 shares of Common Stock (the “ Pre-Funded Warrant Shares ”) at an
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509745/000110465925098082/0001104659-25-098082-index.htm
- Equity Issuances
  CYPHERPUNK TECHNOLOGIES INC. issued up to an aggregate of 71,985,605 shares of Common Stock of warrant to investors named therein for exercise price of $0.5335 per Common Warrant Share.
  - Security: warrant
  - Shares: up to an aggregate of 71,985,605 shares of Common Stock
  - Purchaser: investors named therein
  - Consideration: exercise price of $0.5335 per Common Warrant Share
  source text: ”) to purchase up to an aggregate of 71,985,605 shares of Common Stock (the “ Common Warrant Shares ”), each exercisable for one share of Common Stock at the exercise price of $0.5335 per Common Warrant Share. The Private Placement closed on October 8, 2025 (the “ Closing Date ”). The aggregate gross proceeds of the Private Placement were approximately USD
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509745/000110465925098082/0001104659-25-098082-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.