Safety Shot, Inc., a wellness drinks company, has announced a bold shift in strategy by partnering with the founding contributors of the BONK memecoin. Under the agreement, Safety Shot will receive $25 million worth of BONK tokens and issue $35 million in convertible preferred shares.
The move follows a debt-clearing effort, leaving the company with over $15 million in cash. Dominari Securities, LLC, is acting as sole financial advisor.
Safety Shot chose BONK—built on the Solana blockchain—for its speed, low fees, and deflationary token burn mechanism, distinguishing it from rivals like Shiba Inu (SHIB), Pepe (PEPE), and Dogecoin (DOGE). BONK boasts nearly $2 billion in market cap and over 980,000 holders.
CEO Jarrett Boon described the partnership as the first step in a broader digital asset strategy. However, investor reaction was harsh—Safety Shot’s stock plunged more than 50% to $0.56 in after-hours trading.
The company joins other public firms exploring memecoin treasuries, including GD Culture Group’s $300M crypto reserve plan and Thumzup Media’s $250M crypto portfolio move.
Despite this trend, the memecoin sector is down 25% year-to-date, with BONK itself sliding 11.37% in the past day to $0.00002490.
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