K33 Expands Effective Bitcoin Exposure with Sixty Six Capital Call Option
K33 AB (publ) has announced that its subsidiary Sixty Six Capital Inc. has entered into a 12-month call option agreement for up to 200 BTC with K33 Holding AS at a strike price of US$100,000 per BTC.
The option will allow Sixty Six Capital to increase its Bitcoin exposure and move its existing holdings on-chain. The company will use the remaining net proceeds from selling its Purpose Bitcoin ETF holdings to pay for the option and acquire BTC directly.
K33 Holding AS has fully hedged its Bitcoin price exposure under the option, which means K33 retains its full pro rata economic participation in Sixty Six's additional BTC upside through its ownership stake. Based on K33's approximately 46% ownership, the option adds up to approximately 92 BTC of effective look-through exposure.
Torbjørn Bull Jenssen, CEO of K33 and Sixty Six Capital, said: 'This is a clear example of the synergies we expected from our investment in Sixty Six.' He added that the result is higher effective BTC exposure for both companies. The option may be exercised once for between 100 and 200 BTC until August 21, 2027, and will settle through physical, on-chain delivery.