Capital B, a company listed on Euronext Growth Paris, announced the closing of a €21 million private placement on August 28, 2026. The new capital round was led by two institutional investors: Blockstream founder Adam Back and Paris-based asset manager TOBAM.
The issuance of 36,219,070 new shares was priced at €0.58 per unit, generating gross proceeds of €21,007,060.60. The €0.58 figure was based on the five-day volume-weighted average price (VWAP), representing a 6.45% discount to the closing price on August 27. After deducting issuance costs, Capital B secured net capital of approximately €19.9 million.
Directly Converted into Bitcoin
As soon as the transaction closes as early as August 31, management will purchase 270 new Bitcoin. The crypto purchase will increase Capital B’s reserves from 3,145 BTC to around 3,415 BTC. On August 17, the company acquired 5 BTC for €280,000, continuing a track record from May when a €15.2 million share placement was used to purchase 192 BTC worth €13 million.
In addition to shares, buyers received four five-year warrants per share. The three classes of options were issued with tiered exercise prices: Warrant 2026-06 at €0.75, Warrant 2026-07 at €0.98, and Warrant 2026-08 at €1.27. If the share price rises in the future and triggers the exercise of all 144,876,280 warrants, Capital B could potentially receive up to an additional €135.8 million in funding.
Share Dilution Effects
The distribution of tens of millions of new shares boosted Adam Back’s stake from 12% to 14.82%, followed by TOBAM’s share rising from 2.87% to 3.29%. In contrast, Blockstream Capital Partners’ stake dropped from 21.74% to 19.59%.
To clean up its balance sheet on September 8, Capital B has scheduled a 10:1 reverse stock split. The reverse split alters the exercise terms, where each warrant will subsequently represent one-tenth of a new post-split share.
All securities in this offering were issued without SEC registration, targeting only qualified institutional buyers and accredited U.S. investors. For the public, Capital B’s series of consecutive issuances proves one thing: the company can fund substantial Bitcoin acquisitions through liquidity injections in the capital markets. Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
