The package combines convertible bonds and warrants after the company said an earlier fundraising did not finance its planned bitcoin purchase.
Bitcoin Japan said it has arranged a financing package that could raise up to $60 million through convertible bonds and warrants. The company said about $4 million of the proceeds is planned for bitcoin investment after an earlier fundraising failed to fund its intended purchase. Convertible bonds are debt that can be exchanged for equity, while warrants give investors the right to buy shares later, making the structure a common way for listed companies to seek capital with added upside for backers.