ALTBG Raises €22M in 7 Days for Bitcoin-Focused Strategy
ALTBG, Europe's first publicly traded Bitcoin Treasury Company, has completed two significant capital raises totaling over €22 million in just under a week. The raises, including a €9.9 million capital increase and a €12.1 million BTC-denominated convertible bond, reflect institutional confidence in the company's Bitcoin-native strategy.
The capital increase, priced at €1.0932 per share, represented a 61.7% premium over the 20-day average. It was anchored by major institutions such as Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, and VP Bank. This raise, along with a previous €12.1 million convertible bond issuance, signals a strategic realignment of corporate finance around Bitcoin. The convertible bond, subscribed in full by Adam Back, CEO of Blockstream, could result in the issuance of up to 17.2 million new shares at €0.707 per share upon conversion.
The €9.9 million capital increase involved institutional investors including Block.one and Galaxy Digital. These investors contribute not only funding but also strategic guidance and network access to help realize ALTBG's vision of becoming a leading Bitcoin-focused digital asset platform. The company aims to drive Bitcoin per share up over time and attract long-term aligned capital, building lasting shareholder value on a Bitcoin standard.
ALTBG's successful capital raises, totaling over €22 million, demonstrate institutional conviction in the company's Bitcoin-native strategy. The funds will be deployed towards Bitcoin accumulation and subsidiary growth, further solidifying ALTBG's position as Europe's first publicly traded Bitcoin Treasury Company.
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