ZeroStack Bets $1B on MemeCore Tokens in Massive 167% Share Dilution Deal

ZeroStack acquires about $1 billion in MemeCore $M tokens via massive equity dilution. ZeroStack swapped 3.5 million common shares and approximately 36.2 million pre-funded warrants for 925,925,926 MemeCore tokens. The approximately 36.2 million warrant shares equal about 167.4% of the 21,624,341 outstanding share base. Issuing these warrants requires a shareholder vote to bypass the 19.99% cap under Nasdaq Listing Rule 5635. The transaction of about $1 billion delivered zero cash, settling entirely in tokens valued at $1.08 each. Only the warrant shares are subject to a lockup of up to 10 years, which can be waived by mutual consent. Putting a 167% equity dilution up to a single shareholder vote is a brutal game of chicken, and it's forcing traditional stock owners to weigh massive dilution against a billion-dollar token payout.