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Capital B backs Bitcoin buys
Capital B, the France-listed bitcoin treasury company, announced on Monday 11 de mayo that it secured 15 millones de euros to accelerate its bitcoin (BTC) acquisitions for its corporate treasury.
CriptoNoticias said the company aims to acquire around 180 bitcoin (BTC) and that it currently holds 2.943 BTC, placing it as the vigésima quinta empresa de cotización pública with the largest tenencias of the asset globally.
DiarioBitcoin reported Capital B raised €15.2 million (about USD $18 million) through a private placement of shares and said the financing could allow its treasury to reach 3,125 BTC.
DiarioBitcoin also stated that the operation was carried out through a private placement of 23 million ABSA shares, each accompanied by four subscription warrants, and that the shares were issued at a price of €0.66 per unit.
Investors, voting, and timing
CriptoNoticias said the capital raise was conducted via the issuance of shares with attached subscription certificates and that the mechanism allows investors to acquire new titles under conditions previously agreed.
It also said the investors included Adam Back, CEO of Blockstream, and the French asset manager TOBAM, with Back receiving a direct 13,43% stake and TOBAM 4,20% of the shares.
TradingView reported Capital B is asking shareholders to approve a massive new delegation of fresh capital-raising instruments, seeking authority to issue new equity and credit instruments to accelerate bitcoin acquisitions.
TradingView added that shareholders can cast their votes online until the company's combined general meeting on June 17, and it cited Alexandre Laizet, the board director of Bitcoin Strategy at Capital B, in an Monday X post about the proposal.
Market pressure and broader moves
TradingView said Capital B’s share price fell by around 7% following the announcement and traded at $0.56 as of 10:17 am UTC, while it also reported the shares are down 44% over the past six months and bitcoin has fallen by over 19.4% according to TradingView.
It also said Capital B ranks as the 25th-largest bitcoin treasury firm by holdings and as Europe’s second-largest following Germany’s Bitcoin Group SE, which holds 3,605 BTC, currently worth about $250 million, according to BitcoinTreasuries data.
Cointelegraph described the same Capital B funding push as a $122B funding mandate to buy more bitcoin and tied it to the company’s bid to scale up accumulation while other smaller bitcoin treasury companies are winding down operations.
Cointelegraph also pointed to Sequans Communications, saying it held 658 Bitcoin worth about $48 million and planned to “monetize remaining holdings over time,” resulting in a share price increase of about 14.5% in morning trading.
