Key Highlights:
- Meliuz has raised R$180 million ($32.4 million) through an equity offering to finance its Bitcoin acquisition strategy.
- This initiative positions Meliuz as Brazil’s first public firm to integrate Bitcoin into its treasury reserves.
Brazilian fintech company Meliuz (CASH3) is set to raise R180.08 million (approximately $32.4 million) through an equity offering to support the purchase of Bitcoin. This step marks a strategic shift for the company as it seeks to incorporate Bitcoin within its financial framework, enhancing its balance sheet with this cryptocurrency.
The offering is priced at R7.06 ($1.27) per share, which is about 5% lower than Meliuz’s last recorded price of R7.43. As a result, Meliuz’s stock has seen a drop of over 5% in the current trading session.
BTG Pactual is the lead book-runner for this deal. Earlier this year, Meliuz announced an intention to raise a larger sum of $78 million to become “the first Bitcoin treasury company” in Brazil.
The fintech describes itself as the “third fastest growing shopping app in Brazil” with approximately 41 million loyal users, boasting a market capitalization of R647.08 million ($116.5 million) according to TradingView data.
