Capital B has completed a set of financing and balance sheet adjustments, including the conversion of convertible bonds and a €2.8 million capital raise, as it continues executing its treasury strategy.

The company confirmed that 19,917,972 OCA B-01 bonds held by Blockstream Capital Holdings and UTXO Management were converted into equity. 

This included the conversion of 17,897,600 bonds by Blockstream Capital Holdings into 32.9 million shares, and 2,020,372 bonds by UTXO Management into approximately 3.7 million shares.

In addition to the conversions, both investors participated in a capital increase. 

Blockstream Capital Holdings subscribed to 4.7 million shares at €0.544 per share, contributing roughly €2.55 million, while UTXO Management subscribed to 530,559 shares for approximately €0.29 million.

The company also amended the terms of the OCA B-01 and OCA B-02 tranches, allowing bondholders to convert at any time without a minimum share price requirement. 

This represents a structural change from prior conditions tied to share price thresholds.

As part of the broader transaction, all OCA B-01 and OCA B-02 tranches and shares previously held by Fulgur Ventures were transferred to Blockstream Capital Holdings, an investment group focused on Bitcoin-related financial strategies and affiliated with individuals behind Fulgur Ventures and Adam Back.

Alexandre Laizet, Board Director of Bitcoin Strategy at Capital B, said the transaction reduces BTC-denominated convertible debt while increasing permanent capital and expanding the company’s capacity to issue Bitcoin-linked credit instruments. 

He also noted that the participation of Blockstream Capital Holdings and UTXO Management adds additional capital to support continued Bitcoin accumulation.

Following these transactions, Blockstream Capital Holdings’ ownership stake in the company increased significantly due to both bond conversions and newly subscribed shares, reflecting a shift in the company’s capital structure.

Capital B stated that the transactions are intended to support its objective of increasing Bitcoin exposure on a per-share basis over time.

Share this article
The link has been copied!