Capital B has raised €21 million through a private placement with institutional investors, including Blockstream co-founder Adam Back and asset manager TOBAM, as the company continues to expand its Bitcoin treasury strategy.
The Euronext Growth Paris-listed company will issue more than 36.2 million new shares at a price of €0.58 each. After fees and expenses, Capital B expects to receive around €19.9 million in net proceeds.
The company said the new funding, together with its existing resources, could allow it to purchase approximately 270 additional Bitcoin. If that happens, its total Bitcoin holdings would increase from 3,145 BTC to around 3,415 BTC.
The share offering was priced at a 6.45% discount to the company’s previous closing price. Each share also comes with four warrants that give investors the right to buy additional shares in the future at higher prices.
If all of the warrants are eventually exercised, Capital B could raise another €135.8 million. However, that funding is not guaranteed and will depend on future market conditions and investor decisions.
The company is also preparing for a one-for-ten reverse stock split on September 8. This move will reduce the number of shares outstanding while increasing the price per share, without changing the company’s overall market value.
Capital B has been steadily building its Bitcoin reserves through equity financing. Earlier this year, it completed another fundraising round and used part of the proceeds to buy additional Bitcoin. The latest capital raise signals that management remains committed to growing its Bitcoin holdings as a core part of its long-term strategy.
The transaction is expected to close at the end of August, after which the company may begin deploying the new capital into further Bitcoin purchases. Investors will be watching closely to see whether Capital B follows through on its plan to expand its treasury toward 3,415 BTC.
