Shareholders of Capital B approved major capital increases and credit facilities this month to support Bitcoin holdings. BTC AB launched a rights issue for preference shares that runs through the end of June.
Capital B shareholders approved up to EUR 5 billion in capital increases and EUR 100 billion in credit instruments at the June 17 annual meeting. The authorizations support the company's stated goal of increasing Bitcoin per fully diluted share.
BTC AB began a rights issue on June 16 for up to 195,078 Class A preference shares priced at SEK 120 each. The subscription period ends June 30, with results expected around July 2.
The smaller company secured committed subscriptions of SEK 6.4 million and non-binding indications from insiders for another SEK 2.4 million. As of late May, BTC AB held 171.33 Bitcoin.
Both efforts test whether new financing can raise Bitcoin holdings without shifting undue costs or dilution to existing shareholders.
