Capital B wins approval for €105B funding

• Capital B shareholders approved authorisations allowing the company to raise up to €105 billion to support future Bitcoin purchases.
• The plan includes up to €5 billion in equity issuance and up to €100 billion in credit instruments.
• The company said the financing capacity is intended to accelerate its Bitcoin accumulation strategy.

Capital B approved shareholder resolutions authorising up to €105 billion in financing capacity to fund additional Bitcoin (CRYPTO:BTC) purchases and expand its treasury strategy.

More than 95% of shareholders supported proposals allowing up to €5 billion in capital increases and up to €100 billion in credit instruments, giving the company access to significant future funding sources.

“The issuance of the new capital instruments will accelerate its Bitcoin accumulation strategy, focused on increasing the number of Bitcoin per fully diluted share over time,” said Capital B.

The company reported 300.65 million voting shares outstanding and disclosed that issuing the maximum 125 billion new shares authorised under the plan would reduce existing shareholder ownership to about 0.24%.

Shareholders also approved changing the company’s name from The Blockchain Group to Capital B, and following the announcement the Capital B share price was largely unchanged.

Capital B is Europe’s second-largest corporate Bitcoin holder with 3,139 BTC valued at approximately US$200 million, according to Bitcoin Treasuries data.

The company said it has raised about US$325 million to date, while other treasury firms have taken different approaches, including Sequans Communications, which announced plans in May to monetise its remaining Bitcoin holdings over time.

At the time of reporting, Bitcoin price was $62,951.16.