Capital B raises €7.6 million in Adam Back deal to expand Bitcoin treasury

Capital B has raised €7.6 million from strategic investor Adam Back through a new private placement that could fund the purchase of 376 more Bitcoin and take its holdings to 3,521 BTC. Summary Capital B raised €7.6 million from Adam Back through a private placement of 13.18 million shares with warrants attached. The company said the proceeds and ongoing operations could fund another 376 BTC, potentially taking its holdings to 3,521 BTC. Full exercise of the warrants issued in the transaction could provide Capital B with another €49.4 million in capital. Back’s stake is expected to rise to 17.77% after the new shares are issued, before accounting for potential warrant exercises. Capital B said on Sept. 2 that Back subscribed to 13,181,030 shares carrying four warrants each at €0.58 per unit, generating gross proceeds of €7.64 million. The subscription price represented a 15.4% premium to the company’s Sept. 1 closing share price. Net proceeds are expected to reach approximately €7.3 million after fees and transaction expenses. Capital B plans to use the funds primarily to add Bitcoin to its balance sheet as a long-term reserve asset, continuing a strategy focused on increasing BTC h...