BlockBeats news, on July 18th, according to The Block, Superstate founder Robert Leshner's experimental hostile takeover plan of a "low market value" company - aimed at transforming its business into a cryptocurrency buying giant - seems to have been partially thwarted due to the implementation of the "poison pill" strategy.
On July 14th, Leshner announced that he had purchased 56.9% of the company's shares through the public market, becoming the major shareholder of LQR House Inc. (stock code: YHC), a liquor company with a "lower market value and slightly complex history".
The founders of Compound and Superstate stated at the time that he planned to replace the board of directors and "help the company explore new strategies," including holding a large amount of cryptocurrency. This move seems to be one of the increasing trends among listed companies, which is to establish a cryptocurrency treasury through equity and debt financing arrangements.
