B HODL Plc, a newly established British company focused on Bitcoin accumulation and revenue generation, began trading on the Aquis Stock Exchange (AQSE) Growth Market on Monday under the ticker HODL. 

The listing follows a capital raise of approximately £15.3 million ($20.7 million) through a combination of direct subscriptions and a retail offering.

The fundraising included £13.3 million from investors subscribing for more than 95 million new ordinary shares at 14 pence each, along with an additional £2 million from an oversubscribed WRAP Retail Offer arranged by Winterflood Securities. 

In total, the company issued more than 109 million new shares, representing about 78% of its share capital. B HODL’s market capitalization on admission was approximately £19.6 million.

According to the company, its strategy is to build a Bitcoin treasury and generate revenues through Lightning Network operations. 

This involves using its Bitcoin holdings to provide liquidity for Lightning nodes, with the aim of collecting routing fees and supporting network scaling. 

Management has stated that it expects to diversify into additional Bitcoin-related revenue streams as opportunities arise.

“The strong support we have received from our new investors, with the WRAP offer upsized and closed early due to demand, underlines the scale of interest in Bitcoin's long-term potential - both as an asset and as a means of payment,” said Freddie New, Chief Executive Officer. 

“With our admission complete, we can now focus on building our Bitcoin treasury and deploying it productively through Lightning infrastructure.”

Chief Bitcoin Officer Danny Scott, who is also CEO of the UK exchange CoinCorner, said: “Our team has been building in Bitcoin for over a decade, and we are determined to make B HODL the leading UK-listed Bitcoin company. The hard work of building the future of finance begins now.”

Following the admission, B HODL had 139.9 million ordinary shares in issue, representing the total voting rights of the company. 

Major shareholders include Blockstream CEO Adam Back with a 25.5% stake, CoinCorner with 14.3%, Rise Investments with 7.7%, and Alexander Holt with 6.1%. 

Company directors and founders, including New, Scott, Zakk Lakin, Allen Farrington, and David Boylan, hold smaller stakes. 

Warrants and options have also been issued to management and strategic partners, including CoinCorner, with some tied to performance milestones such as market capitalization reaching £1 billion.

B HODL describes itself as the UK’s first listed firm dedicated specifically to Bitcoin accumulation.

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