Capital B has announced a €3 million capital raise involving TOBAM and UTXO Management, alongside changes to the terms of certain convertible bonds, as part of its Bitcoin treasury strategy.

The financing includes approximately €2 million raised through share subscription warrants subscribed by TOBAM and about €1 million through warrants subscribed by UTXO Management. 

The company indicated that the proceeds could support the purchase of around 36 additional Bitcoin, potentially increasing total holdings to approximately 2,880 Bitcoin.

In addition, Capital B adjusted the conversion prices of its A-03, A-04, and A-05 convertible bonds held by TOBAM. 

The revised conversion prices are €3.12, €2.59, and €1.83 per share, respectively.

The company also modified the structure of these bonds. Upon conversion, holders will now receive both ordinary shares and additional warrants with a two-year term. 

Certain conversion conditions were also removed, allowing bondholders to convert at any time under the updated terms.

The company’s investor base includes firms such as Fulgur Ventures and TOBAM, along with Blockstream CEO Adam Back.

Capital B stated that the changes were made in response to evolving market conditions and are intended to better align its financing structure with its objective of increasing Bitcoin holdings on a fully diluted, per-share basis over time.

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