E.F. Hutton & Co. Serves as Exclusive M&A Advisor and Placement Agent on Completed Shuttle Pharmaceuticals–United Dogecoin Merger to Create the Largest Public Dogecoin Miner
NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- E.F. Hutton & Co. ("E.F. Hutton"), a leading investment banking and financial advisory firm, today announced it served as exclusive M&A advisor and placement agent in connection with the successful closing of Shuttle Pharmaceuticals Holdings, Inc.'s (NASDAQ:SHPH) acquisition of United Dogecoin Inc. ("United Dogecoin" or the "Company"), a Dogecoin mining company driven by industry experts.
The transaction, completed pursuant to a definitive merger agreement, resulted in United Dogecoin merging into a wholly owned subsidiary of Shuttle Pharmaceuticals, creating one of the largest publicly traded Dogecoin mining platforms. In connection with the merger, E.F. Hutton also acted as placement agent for a $9.6 million concurrent Private Investment in Public Equity ("PIPE") financing, which closed on May 6, 2026. The PIPE financing was a critical component of the transaction, providing growth capital to support the rapid scaling of mining operations, including the acquisition and deployment of next-generation mining equipment and expansion of energy-efficient infrastructure.
United Dogecoin's competitive advantages begin with its scale. Within 60 days, newly deployed next-generation ElphaPex mining rigs are expected to be fully operational, delivering up to 43,200 GH/s of hash rate.
E.F. Hutton played a central role in the execution of the transaction, working closely with both companies to structure the merger, align stakeholders, and successfully raise capital. The firm coordinated investor participation and guided the PIPE financing through a complex diligence and negotiation process, helping to deliver a fully integrated strategic and financing solution.
Joseph T. Rallo, Chief Executive Officer of E.F. Hutton, commented, "We are proud to have served as both exclusive M&A advisor and placement agent on this transformative transaction. The successful closing of this merger establishes a differentiated, publicly traded platform with the scale and operational capabilities to compete in the rapidly evolving digital asset mining sector. With the support of the PIPE financing, the combined company is well-positioned to execute on its growth strategy and capitalize on increasing demand for Dogecoin mining."
E.F. Hutton's role included advising on transaction structure and terms, working alongside both management teams to drive strategic alignment, and leading the execution of the PIPE financing. This engagement underscores the firm's ability to deliver integrated advisory and capital markets solutions for complex, cross-sector transactions.
About E.F. Hutton & Co.
E.F. Hutton & Co. is an investment bank and broker-dealer headquartered in New York City, providing comprehensive advisory and financing solutions to a diverse range of clients including corporates, sponsors, and public-private partnerships. With a global footprint, E.F. Hutton offers end-to-end investment banking services encompassing capital markets, PIPEs, private placements, M&A advisory, and strategic financing. The Executive Team has a proven track record of delivering unwavering strategic advice to clients across the U.S., Asia, Europe, the UAE, and Latin America.
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