Health technology company H100, based in Sweden, successfully raises 2.2 million dollars through convertible loans, which will be utilized for Bitcoin acquisitions.
Stockholm-based H100 Group AB, a health technology company, has secured approximately $2.2 million in funding to expand its Bitcoin treasury holdings. The investment, led by Blockstream CEO Adam Back, was raised through 0% interest convertible loans totaling 21 million Swedish krona, according to a May 25 announcement.
Investment firms, including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, Crafoord Capital Partners, and Back himself, contributed a combined $2 million to the round. Back, a British cryptographer and known Bitcoin advocate, invested $1.4 million, accounting for the largest share.
The loans are scheduled to mature on June 15, 2028, and can be converted into equity at a rate of 1.3 SEK (approximately 11 US cents) per share. Under the loan terms, H100 may mandate conversion to equity if the share price maintains a volume-weighted average of 33% above the conversion rate for 60 trading days. Full conversion would issue approximately 16.15 million new shares, resulting in a 12% dilution.
The funds will be used to purchase Bitcoin, which H100 aims to include as part of its broader pivot toward holding the digital currency as an asset on its balance sheet. Following the recent investment, H100 plans to acquire around 20.18 Bitcoin at current market rates, adding to the 4.39 Bitcoin it purchased on May 22.
The latest capital raise follows a growing trend of healthcare firms adopting Bitcoin as a treasury asset. Notable examples include Singapore-based Basel Medical Group, which announced a strategic purchase agreement to acquire up to 10,000 BTC, and US-based KindlyMD, which made an initial purchase of 21 Bitcoin on May 16, aligning with their plan to adopt a Bitcoin treasury strategy[1][2][3].
SRx Health Solutions, another healthcare provider, has announced plans to diversify its financial assets by purchasing Bitcoin. The company, trading on the NYSE American, is balancing potential benefits with risks such as volatility and regulatory uncertainties inherent to cryptocurrency investments[4][5].
H100 shares rallied 39% following the news, pushing H100's market value over $14 million. The move is part of a long-term Bitcoin treasury strategy aimed at diversifying reserves without deviating from the company's core focus on health technology[1][2][4][5].
- The crypto investment led by Blockstream CEO Adam Back, who is a known Bitcoin advocate, was raised through 0% interest convertible loans, with a large portion coming from Back himself, totaling approximately $1.4 million.
- As part of a pivot toward holding digital currency as an asset on its balance sheet, H100 Group AB plans to use the funds to purchase Bitcoin, aiming to acquire around 20.18 Bitcoin at current market rates.
- The growing trend of healthcare firms adopting Bitcoin as a treasury asset is evident in the recent investments made by companies like H100, Basel Medical Group, and KindlyMD, with SRx Health Solutions announcing plans to diversify its financial assets by purchasing Bitcoin as well.
- The securing of approximately $2.2 million in funding for Bitcoin treasury holdings has resulted in a significant rally for H100 shares, pushing the company's market value over $14 million, demonstrating the potential benefits that Bitcoin investments can bring to a company's long-term financial strategy.
[1]
