aibioCosmos Health signs note facility of up to $300 million for Ethereum treasury
Tickers COSM
Cosmos Health agreed to issue up to $300 million of senior secured convertible promissory notes, with at least 72.5% of each tranche's net proceeds going to an Ethereum reserve. Curvature Securities, LLC was the sole placement agent, and the release gives no note terms or investor name.
Key facts
- Company
- Cosmos Health Inc. (NASDAQ: COSM)
- News type
- Financings
- Primary source
- Cosmos Health Inc. 8-K (2025-08-06)
What was signed
Cosmos Health Inc. (Nasdaq: COSM) said on August 6, 2025 that it had entered into a securities purchase agreement with a U.S.-based institutional investor for the issuance of up to $300 million in senior secured convertible promissory notes. The company calls this the Facility. It is subject to the satisfaction or waiver of certain conditions, and the release does not list them. The money is meant to support the launch of an Ethereum (ETH) digital asset treasury reserve strategy.
Under the terms of the Facility, Cosmos must put at least 72.5% of the net proceeds from each tranche closing toward building the digital asset treasury reserve. The remainder is for working capital and various growth initiatives, which the release lists as accelerated product development, advanced R&D innovation, enhanced commercial initiatives and a planned entry into U.S. manufacturing.
Banks, the investor and the custodian
Curvature Securities, LLC acted as the sole placement agent. The release names no legal counsel and does not name the institutional investor. It also redacts the name of the trust company that is to custody and stake the ETH, leaving only a bracketed placeholder before the words Trust Company, Inc.
The release does not give the interest rate, maturity, conversion price, original issue discount or security package for the notes. It says only that they are senior, secured and convertible. Because the notes are convertible, they can add to the share count, but the release gives no conversion terms and no share price.
The Ether plan
The release lists the strategic accumulation of ETH to enhance long-term shareholder value through increasing ETH-per-share as its first highlight. Greg Siokas, the CEO, said the financing offers "shareholders direct exposure to ETH, currently one of the most widely adopted digital assets in the world." He also said the move is "not a short-term pivot, but part of a broader commitment to innovation."
The company says the treasury initiative complements its digital transformation and e-commerce efforts, with potential to explore blockchain use cases in supply chain traceability, wellness incentive programs and global consumer engagement. It also plans to explore additional yield-generating strategies to optimize cash flow and utility from its ETH holdings.
The release does not say how much ETH the company will buy, at what pace, or how the holdings will be valued. It does not describe the price risk of holding a volatile asset. The company's own forward-looking statements list its ability to raise sufficient financing to implement its business plan among the risks that could change results.
Company profile
Cosmos Health was incorporated in Nevada in 2009 and calls itself a diversified, vertically integrated global healthcare group. The 10-K filed April 15, 2025 describes operations in generic medicines, nutraceuticals, biocides, medical devices, novel oncology drugs, drug repurposing and telehealth services.
Its brands include Sky Premium Life, Mediterranation, bio-bebe, C-Sept and C-Scrub. Its subsidiary Cana Laboratories S.A. is licensed under European Good Manufacturing Practices and certified by the European Medicines Agency, and manufactures pharmaceuticals, food supplements, cosmetics, biocides and medical devices within the European Union. Subsidiaries in Greece and the UK distribute pharmaceuticals, parapharmaceuticals, branded generics and OTC medications to retail pharmacies and wholesale distributors.
The company has R&D partnerships targeting obesity, diabetes and cancer, enhanced by artificial intelligence drug repurposing technologies, and it entered telehealth through the acquisition of ZipDoctor, Inc., based in Texas. It says it is expanding throughout Europe, Asia and North America, with offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK.
The 10-K describes the strategy as becoming a global healthcare company through a lean, vertically integrated operating model, expanding its own branded nutraceutical and pharmaceutical products and growing its customer base.
What the release does not show
The release gives no cash balance, revenue, net loss or existing debt for Cosmos Health. The size of the company's need for this money cannot be measured from it. The release does not say when, or whether, later tranches will close. The company's own risk list names its ability to raise sufficient financing to implement its business plan.