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Capital B Raises €2.2 Million in Private Placement Fully Subscribed by Blockstream CEO

The French-listed firm secured €2.2 million from Blockstream CEO Adam Back to expand its Bitcoin reserves, reflecting continued institutional interest in the cryptocurrency.

BTC

Summary

French-listed Capital B has raised €2.2 million ($2.6 million) through a private placement fully subscribed by Blockstream CEO Adam Back. The funds will be used to purchase additional Bitcoin, adding about 17 BTC to its reserves and potentially increasing the total to 2,218 BTC. This follows an earlier bond conversion by Fulgur Ventures, which exchanged 4,760,000 OCA B-01 bonds for 8,750,000 common shares, restructuring the company’s equity base.

Terms & Concepts
  • Private Placement: A funding method where securities are sold directly to a small number of select investors rather than through a public offering.
  • Bitcoin Holdings: The amount of Bitcoin owned by an individual or entity, often reported in BTC to indicate cryptocurrency reserves.
  • Bond Conversion: The process of exchanging bonds for a predetermined number of common shares, as specified in the bond agreement.