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Capital B raises €7.6M for Bitcoin treasury
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Capital B raises €7.6M for Bitcoin treasury

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  • Capital B has raised €7.6 million from strategic investor Adam Back through a private share placement.
  • The company says the proceeds and operating funds could support the purchase of up to 376 Bitcoin (CRYPTO:BTC).
  • If completed, the purchase would lift Capital B’s Bitcoin holdings from 3,145 BTC to as much as 3,521 BTC.

Capital B has raised €7.6 million from Adam Back through a private placement to expand its Bitcoin treasury.

The company issued 13,181,030 shares with four subscription warrants attached to each share at €0.58 per unit.

Capital B said the proceeds, combined with ongoing operating funds, could enable the purchase of 376 additional Bitcoin (CRYPTO:BTC), taking its holdings to as much as 3,521 BTC.

The €0.58 issue price represented a 15.4% premium to Capital B’s closing share price on September 1, according to the company.

Each new share carries two warrants exercisable at €0.75, one at €0.98 and one at €1.27, with the warrants potentially generating another €49.4 million if fully exercised.

Adam Back’s stake would rise to 17.77% on an ordinary basis following the placement, while his stake could reach 27.8% if all related warrants are exercised.

The transaction follows another Capital B capital raise announced in August and continues the company’s strategy of using equity financing to build its Bitcoin holdings.

At the time of reporting, Bitcoin price was $76,796.54.

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