O’Melveny Advises Sui Foundation in Connection with Mill City Ventures’ US$450 Million Private Placement

NEW YORK—August 6, 2025—O’Melveny advised the Sui Foundation, an independent organization dedicated to the advancement and adoption of the Sui network, as an investor, in connection with Mill City Ventures III, Ltd.’s US$450 million private investment in public equity. The proceeds were used to launch the first publicly-traded SUI treasury. Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone.

Karatage Opportunities acted as the lead investor, with an equivalent investment from the Sui Foundation. Additional investors included Big Brain Holdings, Galaxy Digital Inc., and Dr Jack Kong – NLABS Fund. Galaxy Asset Management will serve as the asset manager. A.G.P./Alliance Global Partners acted as the sole placement agent in connection with the offering.

The O’Melveny team advising the Sui Foundation was led by partners David Ni, James Harrigan, Wenting Yu, and Robert Plesnarski.

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Contact:

Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com