Key Highlights:
- Brazilian fintech Méliuz is seeking to raise up to R$450 million (approximately $78 million) through a public offering of shares.
- The anticipated funds will be directed toward acquiring Bitcoin, which the company views as a crucial strategic asset.
- Investors will receive complimentary subscription warrants enabling them to purchase more shares at predetermined prices in the future.
Méliuz, serving over 30 million users in Brazil, has announced a public share offering to gain R$450 million, which will all fund the acquisition of Bitcoin.
The offering was revealed in a securities filing and includes an initial issuance of 17 million common shares, potentially increasing to 51 million based on demand. The shares will only be available to professional investors in Brazil and abroad under automatic registration regulations.
Every share acquired will come with additional warrants divided into 10 series, permitting buyers to acquire more shares at predetermined future prices. Méliuz anticipates raising about $26 million at current share prices, with the potential for this amount to triple should the overallotment options be exercised.
Participants in the offering will receive a total of 50.6 million warrants, with the full issuance possibly hitting up to 152 million under maximum subscription terms. Méliuz aims to use the capital raised to view Bitcoin as a “primary strategic asset” in its treasury, and this initiative follows the company’s previous commitment to allocate 10% of cash reserves to Bitcoin back in March.
Trading of the warrants is expected to commence on June 16, with share transactions finalizing and bonus instruments credited by June 18. The firm currently possesses 320.2 BTC after its shares declined over 8% during Friday’s trading session.
