A Manatt team, led by Capital Markets Partner Thomas Poletti, served as legal advisors to Caliber (NASDAQ: CWD) in connection with the company's adoption of a pioneering digital asset treasury strategy and policy and implementation of an associated capital raising strategy.
The initiative, which includes the acquisition and management of LINK tokens from Chainlink, positions Caliber as one of the first publicly traded real estate asset managers to formally integrate digital assets into its treasury framework and as the first publicly traded company to adopt a digital asset treasury company in connection with LINK tokens.
Caliber has established a Digital Asset Treasury Policy—setting standards for internal controls, risk management and governance—and a Crypto Advisory Board to ensure security, custody and regulatory compliance in managing its new reserves.
Caliber plans to hold the tokens for long-term appreciation and generate yield through staking, funding these purchases through an integrated capital raising strategy utilizing existing credit lines, cash reserves and equity issuances.
Partners Veronica Lah and James Williams and associate Adriana Bass also worked on the milestone transaction, which will integrate these digital reserves into Caliber's corporate treasury incrementally over time.