Paris-listed Capital B shares surged 4.43% to €0.68 at midday, moving against the trend of a CAC 40 that was down nearly 1%. The stock has gained 13.77% over the week despite showing a 46.91% loss over the year. The positive market reaction follows the company's Monday announcement of a €15.2 million fundraising from international institutional investors, including Blockstream CEO Adam Back and asset manager TOBAM. The funding round, which priced shares at €0.66 each with a 1.51% premium, represents a significant milestone for the French Bitcoin treasury company as it continues its aggressive Bitcoin acquisition strategy.
The latest funding round was structured as a private placement with shares priced at €0.66 each with a 1.51% premium to its May 8 close. According to the company's Monday press release, Capital B successfully raised €15.2 million (~₹144 crore) through this private placement. The company issued 23,038,844 ABSA units as part of this private placement structure, with the issuance price reflecting the average VWAP over the last five trading days before pricing. Each share comes with four warrants that could unlock an additional €99.1 million in capital if fully exercised at higher prices. The latest reports confirm that the company issued ABSAs at €0.66 and expects the issuance to occur no earlier than May 13, 2026.
The new proceeds, combined with ongoing operations, could enable Capital B to acquire 182 additional Bitcoin, bringing the company's potential total holdings to 3,125 BTC. As reported by CoinDesk, Capital B already ranks among the 25 largest corporate Bitcoin holders, with roughly 2,943 BTC as of late April. The company plans to use approximately €14.4 million in net proceeds to purchase the additional Bitcoin, with the acquisition expected to be completed if the funding round is successfully finalized. According to the latest reports, the funds will be directed mainly toward expanding its Bitcoin reserves as part of a long-term balance sheet strategy. The treasury strategy centers on growing the number of bitcoin per fully diluted share over time, with the company increasingly positioning itself within this framework as a key performance metric.
Adam Back's involvement marks his second investment in Capital B within a week. According to CoinDesk, on May 4, he subscribed to €1.1 million in warrants that lifted his fully diluted stake to roughly 9.97%. Following the latest placement, Adam Back's shareholding increased from 37,573,329 to 40,146,541 shares, while TOBAM's stake grew from 8,525,707 to 12,563,586 shares. Both were identified as strategic investors in the private placement announcement. The Blockstream CEO has become a vocal backer of Bitcoin treasury vehicles outside the United States, previously committing 30,000 BTC to the Cantor Fitzgerald-linked Bitcoin Standard Treasury, a SPAC structure valued at roughly $4 billion. The participation of these institutional investors adds significant weight to the company's position as a listed bitcoin-focused entity.
The stock remains significantly below its long-term benchmarks, trading at €0.68, which is 64.64% below the 200-day moving average at €1.92. However, on shorter horizons, the gap narrows significantly: the stock is 4.37% below the MM20 and 1.59% below the MM50, two thresholds that today's rebound is gradually approaching. The RSI at 44 indicates a neutral dynamic, without signs of overheating. The price is positioned in the lower part of the Bollinger bands, at 40% of the amplitude, between the support at €0.58 and the resistance at €0.82. The one-month volatility, at 45.2%, reflects the amplitude of daily movements observed on the stock. The company does not communicate a date for the next publication in the financial calendar, with the pace of announcements about the bitcoin reserve and execution of the announced fundraising remaining the most tangible factual elements in the short term.
