Capital B Plans to Raise $24.5 Million to Acquire 270 BTC
French Bitcoin financial firm Capital B plans to expand its Bitcoin holdings by raising $24.5 million through a private issuance. In an announcement on the 28th, Capital B stated that it raised €21 million by issuing an ABSA, which combines shares and warrants, targeted at institutional investors. The issuance price is €0.58 per ABSA, which includes one common share and four warrants. A total of 36,219,070 shares will be issued, and the funds raised will allow for the acquisition of an additional 270 BTC. If the plan proceeds as intended, the company's potential holdings will amount to 3,415 BTC. Capital B also mentioned that if all the warrants related to this transaction are exercised, an additional $158 million in capital could flow in. The exercise of the warrants is conditional, and an accelerated exercise period may open if the volume-weighted average price over the previous 20 trading days exceeds 130% of the exercise price of the warrants. Capital B is listed on Euronext Growth Paris and has divisions in data intelligence, artificial intelligence, and decentralized technology consulting and development.
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