The Euronext Growth Paris-listed firm issued 13,181,030 shares with four warrants each at 58 euro cents per share, according to a filing on Wednesday.
- Capital B raised 7.6 million euros ($8.8 million) from Bitcoin developer and investor Adam Back to expand its cryptocurrency holdings.
- The company plans to buy as many as 376 bitcoin, which would increase its treasury to 3,521 BTC, about $269.5 million at current prices.
- Capital B last reported holding 3,145 BTC acquired for 284.2 million euros, or an average of 90,352 euros each. The holding is currently worth 214 million euros.
Cryptocurrency treasury firm Capital B (ALCPB) raised 7.6 million euros ($8.8 million) from Bitcoin developer and investor Adam Back to expand its holdings of the largest cryptocurrency.
The Euronext Growth Paris-listed firm issued 13,181,030 shares with four warrants each at 58 euro cents per share, according to a filing on Wednesday.
The company plans to use the proceeds to buy up to 376 bitcoin , which would take its total holdings to 3,521 BTC ($269.5 million). This would give Capital B the second-largest bitcoin treasury among Europe-listed public companies, behind German firm Bitcoin Group SE (ADE), which has 3,605 BTC, according to Bitcoin Treasuries.
Adam Back, CEO of Bitcoin developers Blockstream, is a prominent figure in the crypto industry, as an early cypherpunk who is cited in the original 2008 white paper.
Capital B last reported holding 3,145 BTC acquired for 284.2 million euros, or an average of 90,352 euros. The holdings are currently worth 214 million euros ($248 million).
The company’s Paris-listed shares traded at 48.5 euro cents at around midday central European time on Wednesday, 2.1% lower on the day, owing to a broad dip in crypto prices. Bitcoin traded below $77,000, a drop of nearly 1.8% in the last 24 hours.
Each new share comes with four five-year warrants giving investors the right to buy more shares later. If every warrant is exercised, Capital B would issue another 144.9 million shares and collect 135.8 million euros, taking the financing’s potential gross proceeds to 156.8 million euros.
The structure leaves existing shareholders exposed to substantial dilution. A holder of 1% of Capital B before the placement would own 0.90% afterward and 0.65% if all the new warrants are exercised.
Capital B plans to consolidate every 10 existing shares into one on Sept. 8, with the warrant ratios and exercise prices adjusted proportionately.
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Anvil: The Missing Collateral Layer
Anvil: The Missing Collateral Layer
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Why it matters:
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
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