Key Insights:
- The Blockchain Group raised €6 million in two capital increases to expand its Bitcoin reserves.
- Adam Back invested €5M, acquiring 1.24M shares; TOBAM subscribed €1.1M under an ATM agreement.
- The firm aims to increase BTC per share and now holds a potential total of 1,983 BTC.
The Blockchain Group has taken a decisive step toward strengthening its Bitcoin-focused strategy. The Paris-listed tech company raised €6 million through two capital increases finalized on July 14. The funds will directly support its long-term plan to grow Bitcoin reserves per share.
Bitcoin Strategy Strengthened With Key Capital Injections
The Blockchain Group announced a dual-tranche capital increase totaling €6 million to accelerate its Bitcoin Treasury Company model. It received €1.1 million from TOBAM through an “ATM-type” capital agreement and €5 million from Blockstream CEO Adam Back. The company disclosed the deal publicly on July 15 via Euronext Growth Paris.
TOBAM subscribed to 282,201 shares at €3.9493 each, based on a volume-weighted pricing formula defined in a June 6 agreement. Shares were issued without a prospectus under French law exemptions and admitted to Euronext Growth Paris. TOBAM’s investment included allocations from multiple internal funds, such as the TOBAM Bitcoin Enhanced Fund and Bitcoin Treasury Opportunities Fund.
Simultaneously, Adam Back subscribed to 1,248,439 new shares at €4.005 per share, equaling €4,999,998.20 in total investment. The board approved this reserved capital increase using shareholder-authorized powers from the June 10 general meeting. The shares were issued without pre-emptive rights and will also be traded on Euronext Growth.
Shareholder Structure Shifts as BTC Holdings Increase
Following these transactions, Adam Back now owns over 17 million shares, accounting for 12.56% of total share capital. TOBAM holds around 6.59 million shares, representing 4.87%, with executives and institutional investors comprising the remaining structure. The public and institutional float stands at 73.68%.
The company stated, “The operations described above could enable the acquisition of 50 additional BTC, bringing the Company’s potential total holdings to 1,983 BTC.” This statement appeared in its official capital increase release published July 15. The share issuance did not require AMF approval due to applicable regulatory exemptions.
On a fully diluted basis, the Blockchain Group’s share capital could reach over 322 million shares. This includes shares from convertible bonds, free share allocations, and previously announced legal adjustments. The firm continues to pursue a model that aligns traditional equity structures with long-term Bitcoin accumulation.
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Source: https://coincu.com/348768-blockchain-group-secures-e6m-to-expand-bitcoin/