Immunotherapy company Enlivex has raised $21 million in a debt financing deal to purchase another 3 billion tokens tied to prediction marketplace platform Rain.
Enlivex he said on Tuesday exercised its option to buy another 3 billion Rain (RAIN) tokens at a 62% discount for $10 million on Sunday, while extending its option to buy another 272.1 billion RAIN tokens at the same price through December 2027. The debt financing came from The Lind Partners, a New York-based asset management firm.
“We continue to execute on our Treasury Predictive Markets strategy and are pleased that Lind has provided us with significant capital, allowing us to continue executing our operational plan as well as raise approximately three billion additional RAIN tokens,” said Shai Novik, Executive Chairman of Enlivex.
Enlivex is developing cell therapy solutions for knee osteoarthritis, but is one of several non-crypto companies that have purchased cryptocurrencies in hopes that it will strengthen their balance sheets and attract a broader investor base.
The company also said it has approved a $20 million share repurchase program aimed at increasing shareholder value.
Enlivex’s RAIN vault value is directly tied to its Rain decentralized prediction market platform, which has a built-in 2.5% fee that automatically repurchases and burns RAIN tokens to augment token supply and demand dynamics.
RAIN token, Envilex shares are trading mostly flat
The Rain token rose 7% to $0.009 after the Enlivex announcement before falling slightly to $0.0088, trading flat over the past 24 hours with an augment of 0.3%. According to this CoinGecko.
Enlivex (ENVL) shares were also mostly flat on Tuesday and closed the trading day down 0.9% to $1.10, but gained 4.5% in after-hours trading, rising to $1.15.
Related: Kalshi and Polymarket Expect Potential Fundraises of $20 Billion: WSJ
Rain runs on the Ethereum Layer-2 Arbitrum network and ranks among the top 10 prediction market platforms in terms of total value locked and fees over the last seven days, DeFiLlama data can be seen.
Prediction markets have become one of the hottest utilize cases for cryptocurrencies due to their trading volume increasing over 1,200% to $23.3 billion from February 2025 to February 2026.
However, Kalshi and Polymarket still dominate the market, accounting for over 80% of the trading volume.
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