Capital B Raises €21M From Adam Back and TOBAM To Buy More BTC

Bitcoin Magazine

Capital B Raises €21M From Adam Back and TOBAM To Buy More BTC

Capital B, the Euronext Growth-listed company that bills itself as Europe’s first bitcoin treasury company, has raised €21 million ($24 million) in a private placement backed by Blockstream’s Adam Back and asset manager TOBAM — money it says could buy 270 more bitcoin and push its stack to roughly 3,415 BTC.

The company said Friday that a total of 36,219,070 shares were sold at €0.58 each as part of the deal, a 6.45% discount to Wednesday’s closing price.

Capital B said the net proceeds are expected to reach about €19.9 million after fees and transaction costs.

Capital B is the 27th biggest publicly traded bitcoin treasury in the world, according to Bitcoin Treasuries, with a total of 3,145 bitcoins in its stash — worth $245 million at today’s bitcoin price of $77,960.

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