3 hours ago
The Blockchain Group (ALTBG), listed connected Euronext Growth Paris has secured astir 11 cardinal euros ($13 million) successful caller backing arsenic it doubles down connected becoming Europe’s archetypal bitcoin (BTC) treasury company.
This strategical determination underscores the firm’s committedness to increasing its bitcoin holdings comparative to its stock count, aiming to present semipermanent worth to investors done vulnerability to integer assets.
Part of the fundraising included $1.18 cardinal superior summation astatine 5.251 euro per share, completed nether an “ATM-type” statement with plus manager TOBAM.
In parallel, the company’s wholly owned Luxembourg subsidiary issued 10 cardinal euros ($11.8 million) successful convertible bonds, priced astatine 5.174 euro per share, reflecting a 30 percent premium implicit the June 27 closing price. TOBAM subscribed for 5 cardinal euros portion bitcoin pioneer Adam Back invested astir 5 cardinal euros.
The Blockchain Group presently clasp 1,794 BTC, portion the stock terms is up 1% connected Tuesday.
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