2 days ago
Sweden-based H100 Group, a publicly-traded wellness and longevity institution that precocious adopted a bitcoin BTC strategy, said it has raised $10.5 cardinal (SEK 101 million) from a radical of crypto-focused investors including Blockstream CEO Adam Back, UTXO Management, and respective household offices.
According to a Wednesday press release, the fundraising was divided betwixt SEK 69.65 cardinal successful 2 stock issues and SEK 31.35 cardinal successful convertible loans.
The stock issues saw information from a premix of crypto investors and Nordic household offices. The convertible loans transportation nary involvement and mature successful 5 years. Investors tin person the loans into equity astatine SEK 1.75 per share.
H100 shares precocious different 30% successful the Wednesday session, and person present gained astir 400% since the firm's archetypal BTC acquisition connected May 22.
This was the archetypal tranche of a broader backing program archetypal announced earlier and could turn further successful aboriginal rounds, the institution said. H100’s stated purpose is to usage the superior to bolster its BTC treasury strategy.
H100 Group, led by CEO Sander Andersen, is portion of a increasing inclination of nationalist firms raising funds via stock and indebtedness issuances to bargain cryptocurrencies to their equilibrium sheets, a playbook popularized by Michael Saylor's Strategy (MSTR).
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