French bitcoin reserve firm Capital B (The Blockchain Group) has completed a targeted capital increase, raising approximately €21 million from global institutional investors, the company announced on Aug. 28. The round consisted of roughly 36.22 million share warrants (ABSA) priced at €0.58 per share. After deducting related expenses, net proceeds come to approximately €19.9 million. Strategic investors participating in the placement include Adam Back, an early Bitcoin developer, and asset manager TOBAM. Maxim Group served as the exclusive placement agent for the deal. Capital B said the capital will be used to advance its bitcoin treasury strategy, with plans to purchase around 270 additional BTC. If the planned purchase is completed, the company's total bitcoin holdings are expected to climb to approximately 3,415 BTC. The offering targeted global institutional investors as part of the firm's push to build a corporate bitcoin reserve, and the company did not disclose a specific timeline for the planned purchase.
French bitcoin reserve firm Capital B (The Blockchain Group) announced on Aug. 28 that it had closed a targeted capital increase, raising about €21 million from global institutional investors.
Deal structure
The company placed roughly 36.22 million share warrants (ABSA) at €0.58 apiece, for gross proceeds of approximately €21 million. After related costs, net proceeds total about €19.9 million.
Strategic investors in the round include early Bitcoin developer Adam Back and asset manager TOBAM. Maxim Group acted as the sole placement agent.
Bitcoin treasury plan
Capital B said the funds will support its bitcoin treasury strategy. The company plans to buy roughly 270 additional BTC, which would bring its holdings to about 3,415 BTC once the deal is completed.
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