Capital B has announced two new financing operations totaling approximately €11.5 million, fully subscribed by TOBAM Bitcoin Alpha Fund.
The company completed a reserved capital increase of €5 million at €2.90 per share, issuing 1,721,763 new shares. This price represents a 6 percent premium over the August 1 closing price and was determined based on the 20-day volume-weighted average price with a 15 percent discount.
In addition, Capital B’s fully owned subsidiary, The Blockchain Group Luxembourg SA, issued €6.5 million in convertible bonds at €3.66 per share. These bonds carry a five-year maturity, have no coupon, and are fully convertible into Capital B shares. A second tranche of up to €13 million in additional convertible bonds is also planned, providing the company with further access to capital under the same agreement.
The financing operations are expected to fund the purchase of approximately 160 additional bitcoins, which would increase Capital B’s potential total bitcoin holdings to 2,173 BTC on a fully diluted basis. This reinforces its position as Europe’s leading Bitcoin-focused corporate treasury.
The company confirmed that 95 percent of the bond proceeds will be allocated directly to bitcoin purchases, while the remaining 5 percent will cover operational costs and management fees for its Luxembourg subsidiary.
These transactions, conducted without preferential subscription rights, are aimed at accelerating Capital B’s strategy of increasing the number of bitcoins per share over time. Shares issued in the capital increase will be listed on Euronext Growth Paris.
In a separate move, Capital B has acquired an additional 58 BTC valued at approximately €5.9 million, bringing its total holdings to 2,013 BTC, now worth more than €183 million. This expansion was financed through two capital raises in July, including a €5 million subscription by Blockstream CEO Adam Back.
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