Key Highlights:
- Bitcoin Treasury Corporation raised $125 million through a brokered share offering priced at $10 per share.
- The firm acquired 292.80 BTC for C$43.1 million as part of its corporate treasury strategy.
Bitcoin Treasury Corp. (BTCT), which specializes in institutional lending and liquidity services, has purchased 292.80 BTC for C$43 million (approximately $31.6 million) to kickstart its accumulation strategy aimed at building a resilient digital asset treasury. This strategy positions the corporation to view Bitcoin as both a long-term reserve asset and a pivotal element of its income-generating model, supporting its institutional loan operations.
Toronto
Toronto (Shutterstock)
With the funds raised from its recently completed brokered share offering, Bitcoin Treasury intends to offer institutional-grade services linked to the digital asset realm. The company plans to emphasize disciplined risk management and enhance shareholder value, aiming to establish itself as a pioneer in bitcoin-backed financial solutions.
The organization’s shares are set to commence trading on the TSX Venture Exchange on June 30, following a reverse takeover of 2680083 Alberta Ltd. The shares of the combined entity have been initially listed at C$10 with an immediate halt imposed by the exchange.
Although neither BTCT nor the 268 shares were previously listed, the merger acts as a corporate shortcut that enables BTCT to transform into a public entity without undergoing a standard IPO, using 268 as a private shell company established for this purpose.
The offering engaged several financial institutions, including Canaccord Genuity, Stifel, National Bank Financial Markets, BMO Capital Markets, and CIBC Capital Markets.
