Overview
- Capital B, which announced the deal Monday, sold 23,038,844 ABSA units at €0.66 to qualified institutional investors, with Maxim Group leading and Marex co‑managing.
- The company expects about €14.4 million in net proceeds to fund the purchase of roughly 182 bitcoin, lifting holdings from about 2,943 BTC to about 3,125 BTC.
- Each ABSA includes one share and four five‑year warrants with tiered exercise prices of €0.86, €1.12, and €1.46, and full exercise across 92,155,376 warrants could add €99.1 million.
- The warrants can shift into a 20‑day exercise window if the stock’s average price stays 30% above a strike for 20 straight trading days.
- Strategic backers increased exposure, with Adam Back set to hold 13.43% on an ordinary basis and TOBAM 4.20%, as Capital B pursues a plan to raise bitcoin held per fully diluted share.