Capital B, a publicly traded company on Euronext Growth Paris, completed a €1.2 million ($1.41 million) capital increase by issuing 706,000 new shares at an average price of €1.70 each.
The issuance is a part of an “ATM-type” agreement with investment partner TOBAM.
According to the official press release, the share issuance combined subscription requests from multiple TOBAM funds, with the average subscription price representing a 56% premium over the last trading day’s closing price.
Shareholders’ preferential rights were waived to allow these targeted investors to participate. After the capital increase, the company’s equity per share slightly increased from €0.74 to €0.75.
Company’s bitcoin treasury
The new funding is aimed at expanding Capital B’s Bitcoin treasury. As per CoinMarketCap, Bitcoin is currently trading around $113,000. At this price, the company’s increase could enable the acquisition of around 10 additional BTC, potentially bringing total holdings to 2,810 Bitcoins.
The previous day, the company purchased 551 BTC for €54.7 million, boosting year-to-date Bitcoin returns to an impressive 1,651.2%. The company currently holds 2,800 BTC in the treasury.
Earlier this month, Capital B completed a €58.1 million capital increase via a private placement to institutional investors.
According to Bitcoin Treasuries, Capital B is the 28th largest corporate Bitcoin holder globally. The company continues to develop its subsidiaries, focusing on Data Intelligence, AI, and decentralized technology consulting.
Capital B share, ALCPB, is trading at €1.1560($1.36), reflecting a 6.25% increase for the day, as shown in the data on Yahoo Finance.
Also Read: Central Banks Could Hold Bitcoin Like Gold by 2030: Deutsche Bank
