Safety Shot Stock Halves After $25 Million BONK Treasury Pivot

Safety Shot shares fell roughly 50% during regular trading on August 11 after the Nasdaq-listed beverage company announced it would receive approximately $25 million in BONK tokens and make the Solana memecoin its primary treasury asset. Safety Shot disclosed a partnership with BONK’s founding contributors that will “deeply integrate” the company with the BONK ecosystem.

Under the agreement, Safety Shot will receive an initial BONK allocation valued at about $25 million. In exchange, the company will issue $35 million in preferred shares that can convert into common stock. Safety Shot said it cleared all outstanding debt before the deal and currently holds more than $15 million in cash.

The beverage company positioned BONK as its main treasury asset, citing the token’s fast, low-cost transactions on Solana and community-driven burn mechanisms designed to reduce supply. Safety Shot said the partnership aims to diversify its balance sheet and create new revenue opportunities while maintaining its beverage business operations.

Safety Shot CEO Jarrett Boon called the partnership “the first stage of a much broader corporate evolution for our company.” Dominari Securities is serving as the exclusive financial advisor for the transaction.

BONK had a market capitalization above $2 billion as of July 31 and approximately 980,000 on-chain holders, according to company data. The token operates on Solana’s blockchain with what Safety Shot described as high-speed settlement capabilities and deflationary economics through ecosystem burns.

The company positioned the BONK alliance as part of a broader shift toward acquiring revenue-generating DeFi assets and building a digital asset treasury alongside its existing beverage operations. Safety Shot joins other publicly traded companies exploring cryptocurrency treasury strategies.

In May, GD Culture Group outlined plans to raise up to $300 million for a crypto reserve that would include a TRUMP-branded memecoin. However, memecoin market capitalization has declined this year despite gains in the broader cryptocurrency market, according to industry data.