
Key Details:
- The Blockchain Group has successfully raised approximately €11 million ($13 million) via a €1 million capital increase and €10 million in convertible bonds to support its Bitcoin Treasury Company strategy.
- Noteworthy investors in this venture include TOBAM and Bitcoin innovator Adam Back, who both acquired the convertible bonds at a 30% premium.
Business Strategy
The Blockchain Group (ALTBG), listed on Euronext Growth Paris, aims to establish itself as Europe’s premier Bitcoin treasury firm. This initiative reflects a strategic commitment to enhancing its Bitcoin holdings while pursuing long-term value for investors through digital asset exposure.
A large black bull lies on a green field.
Image credit: Walter Frehner/Unsplash
Part of this fundraising effort involved a capital increase of $1.18 million under an “ATM-type” agreement, managed alongside asset manager TOBAM. Concurrently, the company’s Luxembourg subsidiary issued €10 million ($11.8 million) in convertible bonds, with pricing reflecting a 30% premium over the closing price on June 27, attracting investments from TOBAM and Adam Back.
The Blockchain Group currently holds 1,794 BTC, while its share price experienced a 1% increase on Tuesday.