Brazilian Firm Meliuz's Shares Fall After Planning to Raise $32.4M to Buy Bitcoin

Brazilian fintech steadfast Meliuz (CASH3) plans to rise R180.08 cardinal ($32.4 million) done an equity offering, according to a filing.

The backing is earmarked specifically for the purchase of bitcoin, aligning with the company’s caller strategical displacement to incorporated bitcoin into its equilibrium sheet.

The offering, priced astatine R7.06 ($1.27) per share, was astir 5% little than Meliuz’s closing terms of R7.43 connected Thursday. The banal has fallen much than 5% successful today's trading.

BTG Pactual served arsenic the book-runner for the deal, according to the filing.

Earlier this year, Meliuz announced that the institution plans to rise $78 cardinal successful equity to go “the archetypal bitcoin treasury company” successful Brazil.

The fintech company, which calls itself "3rd fastest increasing buying App successful Brazil," boasts astir 41 cardinal loyal users arsenic of the archetypal 4th of this year, according to a presentation. The institution presently has a marketplace headdress of ‪R647.08M‬ ($116.5M), according to TradingView data.