Capital B, a French listed company devoted to building a bitcoin treasury, has raised approximately €21 million by placing about 36.22 million ABSA units with global institutional investors. The units, which consist of shares with attached warrants, were sold at €0.58 each. Gross proceeds came to roughly €21 million, while net proceeds after deducting related fees and expenses stood at about €19.9 million. Strategic investors included Adam Back, an early bitcoin developer, and asset manager TOBAM. Maxim Group served as the exclusive placement agent. Capital B plans to use the funds to buy around 270 additional bitcoins, which would lift its total holdings to approximately 3,415 BTC once the transaction is completed.
French bitcoin treasury firm Capital B has pulled in about €21 million by placing roughly 36.22 million ABSA units with global institutional investors. Those units — shares with attached warrants — were priced at €0.58 apiece, bringing in gross proceeds of around €21 million. After related costs were taken out, net proceeds landed at about €19.9 million.
Among the strategic investors were Adam Back, an early bitcoin developer, and asset manager TOBAM. Maxim Group served as the exclusive placement agent for the offering. Capital B is a French listed company focused mainly on building up bitcoin for its corporate treasury.
The money is set aside to buy about 270 more bitcoins. Once that purchase is finished, the firm's total bitcoin holdings should rise to roughly 3,415 BTC.
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