Capital B Secures $24.5M Private Placement To Expand Bitcoin Holdings

French Bitcoin treasury firm Capital B has raised €21.0 million ($24.5 million) through a private share placement, drawing backing from Blockstream CEO Adam Back and asset manager TOBAM as the company continues expanding its bitcoin reserves.

Deal Structure Includes Warrants Worth Millions More

The placement was priced at €0.58 per ABSA unit, with each unit combining one share and four share subscription warrants, issued without pre-emptive rights for existing shareholders. Should all warrants eventually be exercised, Capital B could receive an additional €135.8 million ($158 million), resulting in the creation of over 144.8 million new ordinary shares. The company also holds the option to accelerate warrant exercises if its share price stays above 130% of the set exercise price over a 20-day trading average.

Bitcoin Purchase To Push Holdings Past 3,400 BTC

Capital B intends to use the new funds to purchase 270 BTC, bringing its total treasury to 3,415 BTC. This would place the firm just ahead of Bitcoin Group SE, though still far behind industry leader Strategy, which holds hundreds of thousands of bitcoin worth tens of billions of dollars.

Part Of A Broader Expansion Plan

The raise follows an earlier shareholder-approved plan allowing Capital B to pursue a multibillion-dollar capital increase, passed with overwhelming shareholder support even as some smaller treasury firms have chosen to sell portions of their bitcoin holdings instead.