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First light- and laser-based computing system designed to outperform quantum and supercomputing and solve complex problems unfeasible for GPUs
Strategic partner LightSolver named a 2025 World Economic Forum Technology Pioneer and recognized in Gartner's 2025 Hype Cycle for Data Center Infrastructure Technologies
Supported by strategic investment from TNF's largest stockholder; TNF to pursue name change reflecting new direction
TNF Pharmaceuticals, Inc. (NASDAQ:TNFA) ("TNF" or the "Company") today announced that it has entered into a licensing agreement for an innovative processing accelerator designed to expedite compute-intensive computations In partnership with LightSolver Ltd. ("LightSolver"), a company recognized by Gartner and the World Economic Forum for its breakthrough innovation. TNF holds exclusive rights to the use of its computing technology in cryptocurrency and blockchain applications. TNF intends to change its name in accordance with its new venture.
LightSolver is the creator of the first laser-based processing unit ("LPU") to harness light for computation, offering an accelerated computation method designed to outpace conventional GPUs, quantum computing, and high-performance computing (HPC) with greater speed and efficiency. Applied to cryptocurrency, this scalable technology will be designed to reduce energy costs by up to 90% and offer a potential pathway to fully sustainable infrastructure.
TNF also announced today that it has entered into a securities purchase agreement for a $7.0 million private placement financing, including the Company's largest strategic stockholder and other existing stockholders, involving the sale of 7,000 shares of its newly created Series H convertible preferred stock ("preferred stock"), with a stated value of $1,000 per share, convertible into shares of its common stock following receipt of the requisite stockholder approval and accompanying common stock purchase warrants, which is expected to close on or about September 4, 2025, subject to the satisfaction of customary closing conditions.
The shares of preferred stock have an initial conversion price of $5.00 per share. The warrants are exercisable following the receipt of the requisite stockholder approval, have an initial exercise price of $5.00 per share and expire five years from the date of stockholder approval.
Posted In: TNFA
