MEI Pharma Inc. said it has arranged a private investment in public equity of about $100 million to convert its corporate treasury into Litecoin, becoming what it calls the first publicly traded company on a U.S. national exchange to designate the cryptocurrency as its primary reserve asset. The San Diego-based biotech will sell 29.2 million common shares, or pre-funded warrants, at $3.42 apiece in a deal expected to close around 22 July, subject to customary conditions. Proceeds are earmarked entirely for acquiring Litecoin, with digital-asset market maker GSR appointed as treasury manager. Charlie Lee, the creator of Litecoin and a lead investor in the financing, will join MEI’s board once the transaction closes. Titan Partners Group, a division of American Capital Partners, is acting as sole placement agent. MEI said the move aligns its balance sheet with a decentralized asset that it believes offers long-term value and diversification.