The Blockchain Group Secures €11 Million to Expand Bitcoin Holdings
The Blockchain Group (ALTBG) has raised approximately 11 million euros ($13 million) to enhance its position as Europe's first bitcoin treasury company. Key details include:
- Funding includes a $1.18 million capital increase at 5.251 euros per share through an "ATM-type" agreement with TOBAM.
- A subsidiary issued 10 million euros ($11.8 million) in convertible bonds at 5.174 euros per share, a 30% premium over the June 27 closing price.
- TOBAM and bitcoin pioneer Adam Back each invested around 5 million euros in the bond issuance.
- The Blockchain Group currently holds 1,794 BTC.
- Share price increased by 1% on Tuesday.