Overview
- Capital B said Monday it raised €1.1 million via 10 million warrants fully subscribed by Blockstream CEO Adam Back, and the stock rose more than 6.5% after the news.
- The warrants cost €0.11 each and carry a €0.84 exercise price that adjusts with a modified net asset value tied to the company’s Bitcoin per share.
- The firm cut the OCA B-04 bond conversion price to €2.59 from €5.174 and dropped a share-price condition, giving Back the option to convert at any time before maturity.
- Back’s fully diluted stake now stands at about 9.97%, or more than 39.5 million shares, as Capital B says it will use the funds to accelerate Bitcoin purchases.
- Capital B holds 2,943 BTC, placing it around 25th on Bitcointreasuries.net, while peers show mixed tactics with Back also backing XCE’s April raise and others hedging or selling holdings.