Bitcoin Treasury Company Capital B Raises €7.6M From Adam Back For Expansion

Key Highlights

• Capital B raises €7.6M from Adam Back as Funding could help the company buy 376 additional BTC.
• Attached warrants could also provide up to €49.4 million in additional capital.
• Capital B’s potential Bitcoin holdings could reach 3,521 BTC.

The French-based tech company Capital B is stepping up its Bitcoin treasury strategy with a fresh €7.6 million capital raise backed by Adam Back.

The company announced the private placement on September 2. The funding will be used to support its plan to buy more Bitcoin.

Capital B is listed on Euronext Growth Paris under the ticker ALCPB. It also trades in the US under CPTLF. The company describes itself as Europe’s first Bitcoin Treasury Company.

Adam Back backs Capital B With Fresh Funding

As per the company’s press release, the latest Adam Back funding to Capital Bwas completed through the issuance of 13,181,030 shares. The shares were priced at €0.58 each. Four share subscription warrants are attached to every new share.

The €0.58 issue price also represents a 15.4% premium to Capital B’s closing share price on September 1, the company said. The €7.6 million investment was subscribed by strategic investor Adam Back.

Back is a well-known figure in the Bitcoin industry as the CEO of Blockstream and has been involved in Bitcoin and cryptography for many years.