Overview
- Capital B said Friday that it completed a €21 million private placement by issuing 36,219,070 shares at €0.58 each bundled with four subscription warrants (ABSAs).
- The company expects net proceeds of about €19.9 million after fees and costs and sold the shares at roughly a 6.45% discount to the prior close.
- Investors in the raise include Blockstream CEO Adam Back and asset manager TOBAM, with Maxim Group acting as sole placement agent.
- Capital B plans to use the new funds primarily to buy roughly 270 BTC, which would lift its potential holdings to about 3,415 BTC, and the warrants cover 144.9 million shares with exercise prices that could raise up to €135.8 million if fully exercised.
- The move follows other firms that continue to build corporate bitcoin treasuries despite losses in the sector and a Financial Times analysis that found more than $80 billion wiped from firms that adopted bitcoin treasury strategies.