France-listed Bitcoin treasury company Capital B has raised $17.8 million from strategic investors, including Blockstream CEO Adam Back and Paris-based asset manager TOBAM.
The capital was raised through a private placement of shares, with four share subscription warrants per share at a fixed price of $0.78. Proceeds could allow the company to acquire another 182 Bitcoin, potentially lifting its total holdings to 3,125 BTC.
If all warrants are exercised, Capital B could raise an additional $116.5 million through the issuance of about 92 million additional shares.
Capital B shares rose about 4.3% after the announcement, trading at 0.67 euros ($0.79). Year-to-date, the stock is down roughly 11%.
Capital B is the 25th-largest Bitcoin treasury firm, holding 2,943 BTC worth about $237 million. It is Europe's second-largest Bitcoin treasury after Germany's Bitcoin Group SE.