According to reports from Crypto.news, Capital B has raised €7.6 million from strategic investor Adam Back through a new private placement of 13.18 million shares with attached warrants. The subscription price of €0.58 per unit represented a 15.4% premium to the company's September 1 closing share price, with net proceeds expected to reach approximately €7.3 million after fees and transaction expenses. The raise arrives with Bitcoin trading near $76,577, down 1.66% in a day, as renewed US strikes near the Strait of Hormuz pushed it below $77,000 on Tuesday. As per Capital B's September 2 announcement, the closing was expected from September 3, though technical requirements could delay completion by several days.
As reported by Crypto.news, the proceeds from the new placement, combined with Capital B's ongoing operations, could support the purchase of 376 Bitcoin. Completing this acquisition would increase the company's potential holdings to 3,521 Bitcoin. Capital B currently holds 3,145 Bitcoin after purchasing five additional coins for €280,000 in August at an average price of €55,882 each. The company calls itself Europe's first Bitcoin Treasury Company with a stated goal of more bitcoin per fully diluted share rather than a bigger raw coin count. The 376 BTC figure represents potential capacity funded by the placement and ongoing operations, not coins already purchased.
According to Crypto.news, each of the 13.18 million shares carries four warrants divided across three tranches with five-year maturities. The Warrants 2026-06 have an exercise price of €0.75, Warrants 2026-07 can be exercised at €0.98, and Warrants 2026-08 carry a €1.27 exercise price. If Back exercises every warrant issued through the transaction, Capital B would receive an additional €49.43 million. Full exercise would create 52,724,120 shares and raise a further €49.4 million, with Back's ordinary stake climbing from 14.82% to 27.80% on a fully diluted basis. The company can also open an accelerated exercise window if its 20-day volume-weighted average share price exceeds 130% of a given exercise price for 20 consecutive trading days, after which any unexercised warrants become void.
As reported by Crypto.news, Adam Back's stake is expected to rise to 27.8% after the new shares are issued, before accounting for potential warrant exercises. Back already held 54.3 million shares representing 14.82% of ordinary share capital before the latest transaction. Once the new shares are issued, his ownership rises to roughly 67.49 million shares, equating to approximately 17.77% on an ordinary basis and 14.76% on a diluted basis. Full exercise of the warrants from this placement alone could push his stake to 27.80% on an ordinary basis and 23.36% on a diluted basis. The financing follows another private placement announced days earlier under the same €0.58 subscription terms, with investors paying the same price including French asset manager TOBAM.
According to Crypto.news, the closing of Back's latest private placement is expected from September 3, with shares to be admitted to trading on Euronext Growth Paris after closing. Capital B is separately preparing a 10-for-1 reverse stock split scheduled for September 8, which will consolidate ten existing shares into one new share and rescale every warrant ratio. The company may open an accelerated exercise window whenever the 20-day average price beats 130% of a tranche strike. Capital B has approved substantial financing authority including up to €5 billion in capital increases and €100 billion in credit instruments, with resolutions receiving more than 95% support from shareholders. The September 2 deal follows a separate €21 million private placement announced August 28, which could fund 270 BTC and take holdings from 3,145 BTC toward 3,415 BTC, representing a distinct transaction from this week's 3,521 BTC target.
