Capital B, a France-based listed company that runs a bitcoin treasury strategy, has completed a targeted capital increase of about €21 million. In the deal, the company issued roughly 36.22 million shares with warrants, known as ABSA, to global institutional investors. The issue price was €0.58 per share. Gross proceeds came to about €21 million, and after deducting related fees the company took in net proceeds of about €19.9 million. Adam Back, one of the early developers of bitcoin, and TOBAM, an asset management firm, participated as strategic investors. Maxim Group served as the exclusive placement agent. Capital B plans to use the new capital to buy around 270 bitcoins, adding to its existing reserve. After the transaction, its total bitcoin holdings are expected to reach about 3,415 BTC, implying it held roughly 3,145 BTC before the planned purchase. Capital B is a France-based listed entity focused on holding bitcoin as a corporate treasury asset.
Capital B, a French-listed company running a bitcoin treasury strategy, has completed a targeted capital increase that raised roughly €21 million. The company placed about 36.22 million shares with warrants, or ABSA, with global institutional investors at €0.58 per share. After fees, net proceeds stand at around €19.9 million.
Adam Back, an early bitcoin developer, and asset manager TOBAM came in as strategic investors. Maxim Group acted as the sole placement agent for the transaction.
Capital B plans to use the proceeds to buy roughly 270 more bitcoins. Once that purchase is done, its holdings are expected to climb to about 3,415 BTC.
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