Stack BTC Plans to Acquire Direct Bullion for Up to £12 Million

Stack BTC has signed a non-binding agreement to acquire London precious metals dealer DB London Ltd (operating under the name Direct Bullion) for up to £12 million. The proposed consideration includes £3 million in cash payable upon completion of the transaction, approximately £4 million in new shares, and a performance-related payment totaling about £5 million; the issue price of the relevant shares will not be less than 6 pence per share, with a four-year lock-up period. Direct Bullion reported audited revenue of £52.1 million and a post-tax profit of £2.15 million for the year ending January 31, 2026, with a revenue growth of 288% over three years. This transaction will constitute a reverse takeover and related party transaction under Aquis Growth Market rules, and is still subject to due diligence, the signing of a formal agreement, and approvals from AQSE and related companies. Stack BTC plans to support its Bitcoin treasury strategy with the operating cash flow of Direct Bullion.

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