Capital B raises $24.5M for its Bitcoin treasury amid market uncertainty with BlockStream’s Adam Back chipping in
Capital B, a French Bitcoin treasury company, raised €21.0 million ($24.5 million) through a private share placement priced at €0.58 per ABSA, with no pre-emptive subscription rights. Participants included Adam Back and asset manager TOBAM. If all warrants issued in the deal are exercised, the company could raise an additional €135.8 million ($158 million) and issue 144,876,280 ordinary shares. Capital B can accelerate warrant exercise if its share price trades above 130% of the relevant exercise price over 20 trading days. The proceeds will be used to buy 270 Bitcoin, increasing holdings from 3,139 BTC to 3,415 BTC. That would keep it among the larger publicly listed Bitcoin treasury firms, though far behind Strategy’s 843,775 BTC. The raise follows a June proposal approved by shareholders to allow much larger future capital and debt issuance.
