Shuttle Pharmaceuticals targets $120 million to $150 million raise for computing infrastructure

Shuttle Pharmaceuticals said in a quarterly filing that it plans to raise $120 million to $150 million as it and subsidiary United Dogecoin negotiate a data center land deal. The company said its current cash and proceeds from equity offerings will not fund operations for the next twelve months. United Dogecoin has bought 500 computing rigs and initiated an agreement to place them at another operator's facility. It intends to start with Dogecoin mining while designing facilities for potential AI and other computing workloads. Shuttle said its ability to continue operating depends on additional financing, and the planned raise is not guaranteed.