The Blockchain Group Launches 300 Million Euro Share Issuance Program

The Blockchain Group (ALTBG) has launched a share-issuance program totaling up to 300 million euros ($342.5 million), supported by French asset manager TOBAM. Key details include:

The program is structured as an at-the-market (ATM) initiative.
TOBAM can purchase shares based on daily market conditions, with pricing set at the higher of the previous day's closing price or its volume-weighted average price.
Purchase volume is limited to 21% of the day’s trading activity.
Proceeds will be used to acquire bitcoin, aiming to increase the company’s "bitcoins per share" metric.
Since November, Blockchain Group has acquired 1,471 BTC at an average price of $102,507.
TOBAM may increase its stake from 3% to over 39% if the program is fully executed.
A shareholder vote on June 10 could raise the capital limit to 500 million euros.
Shares have increased by 20% today, reaching 4.9 euros, with a current market cap of 543 million euros.