ALT5 Sigma Corporation has announced plans to raise $1.5 billion to launch the first corporate treasury for World Liberty Financial (WLFI), a crypto venture backed by the Trump family. The company will sell 200 million shares at $7.50 each through a $750 million registered direct offering and a $750 million private placement.

As part of the deal, Eric Trump will join the board as a director, alongside WLFI co-founders Zach Witkoff and Zak Folkman, with Folkman serving as a board observer. WLFI advisor Matt Morgan will take on the role of chief investment officer. The fundraising is expected to close Tuesday.

According to an SEC filing, ALT5 Sigma will also receive $750 million worth of WLFI tokens in exchange for one million shares and 99 million pre-funded warrants priced at $0.01 each. However, issuing these shares will require an increase in the company’s authorized share count. The cash portion will be allocated toward expanding WLFI’s corporate reserve.

The announcement follows reports that WLFI may form a publicly traded company to hold its tokens. Despite the high-profile nature of the move, ALT5 Sigma shares dropped 9.8% following the news, though they remain up over 19% in the past week.

This deal marks a growing trend of corporate treasuries embracing cryptocurrencies beyond Bitcoin. Ether holdings among corporate treasuries have climbed to 3.04 million ETH, worth about $13 billion, as Ethereum’s price surpasses $4,300. Vitalik Buterin has welcomed the diversification but cautioned against excessive leverage. Other firms are moving into altcoin reserves, such as Solana for staking rewards, and Toncoin, which recently drove Verb Technology’s stock up over 200% in a single day.