Crypto
Home›Crypto›Bitcoin›Capital B raises €21 million for Bitcoin treasury, wit…
Capital B raises €21 million for Bitcoin treasury, with Adam Back support
Capital B will use the proceeds to buy 270 BTC, taking its holdings to 3,415 BTC, and can receive an additional €135.8 million if warrants are exercised.
French Bitcoin treasury firm Capital B said it raised €21.0 million, or about $24.5 million, through a private share placement at €0.58 per ABSA, structured as one share bundled with four share-subscription warrants, according to Cointelegraph. The placement did not include pre-emptive subscription rights.
The round included participation from Adam Back, CEO of BlockStream, and asset manager TOBAM. If all issued warrants are exercised, Capital B expects a further €135.8 million, about $158 million, via the issuance of 144,876,280 ordinary shares.
Capital B plans to use the new funds to acquire 270 Bitcoin (BTC), increasing its total holdings to 3,415 BTC. The company also said it could trigger an accelerated warrant exercise period if its shares’ volume-weighted average price over the prior 20 trading days rises above 130% of the warrant exercise price.
Cointelegraph also noted that the news follows Capital B submitting a board proposal in early June to allow up to €5 billion in capital increases and €116 billion in credit instruments, which passed with 162,486,459 votes, or 99.34%, in favor.
Latest closeBitcoin $77,411.01 ▼3.5%