EMJ's Jackson pursues crypto treasury strategy with reverse merger (Dec. 16)

(Corrects company ticker ⁠symbol to SRXH ⁠from ‍SRXG in paragraph 1)

Dec 16 (Reuters) - Fund manager and activist investor Eric Jackson is set to ‍head a crypto treasury firm following a reverse ​merger with pet wellness company SRx Health Solutions (NYSE: SRXH), sending the company's ​shares soaring in early trading on Tuesday.

In July, Jackson, the founder of a small Canada-based hedge fund, sparked a surge in ​Opendoor Technologies shares, drawing retail traders into a rally reminiscent of the 2021 meme stock frenzy.

His move ​into crypto treasury strategy comes when investors have turned cautious with shares of ‌firms in the sector remaining highly sensitive to bitcoin's volatility.

EMJX plans to set itself apart from ​peers such as Michael Saylor's ⁠Strategy Inc by managing a multi-asset portfolio and employing active hedging.

"Our objective is to reinvest ‌capital back into the treasury over time rather than rely on dilution, and to build a transparent, institutional-grade platform ‌with a long-term orientation," Jackson said.

Jackson will serve as the founder, ‌chairman and CEO of EMJX, which will invest in bitcoin, ethereum and a selection of smaller cryptocurrencies, after the deal closes.

Shares of ‍the company, which makes pet health and wellness products, nearly doubled in value to ⁠61 cents. It had a market capitalization of $8.4 million as of last close.

The deal is subject to approval by shareholders of SRx Health Solutions.

(Reporting by Medha Singh in Bengaluru; Editing by Sriraj Kalluvila)

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