Adam Back Invests $8.8M in Capital B as Bitcoin Treasury Firm Targets 3,521 BTC

Capital B, a French bitcoin treasury company, has secured an additional $8.8 million from Adam Back in a private placement of shares. The deal consists of 13.18 million shares issued at €0.58 ($0.67) each, with four warrants attached to every share.

The warrants are exercisable at different prices: two at €0.75 ($0.87), one at €0.98 ($1.13), and one at €1.27 ($1.47). Each warrant matures in five years, with the possibility of accelerated exercise if Capital B's 20-day volume-weighted average price exceeds 130% of the applicable warrant exercise price for 20 consecutive trading days.

The company expects to use the proceeds and ongoing operations to acquire an additional 376 BTC, bringing its potential holdings to 3,521 BTC. This represents a significant increase from its current holdings of 3,145 BTC, where it ranked 26th among public companies tracked by Bitcoin Treasuries as of September 2.

The deal follows a previous $18 million raise in May, which included participation from Back and asset manager TOBAM. Capital B also announced an exploration into digital credit instruments for the European market, modeled on Strategy's STRC and Strive's SATA.