In Bitcoin news Today, Blockstream CEO Adam Back has subscribed to a €7.6M private placement in the France-listed Capital B, providing the company with fresh capital to expand its Bitcoin treasury.
According to Capital B’s September 2 announcement, the financing could support the purchase of up to 376 additional BTC, potentially lifting the company’s holdings from 3,145 BTC to a target of 3,521 BTC.
Capital B $ALCPB raises €7.6 million with strategic investor Adam Back @adam3us, which along with ongoing operations, could enable the total acquisition of 376 additional BTC, bringing the Company’s potential total holdings to 3,521 BTC
with potential additional capital… https://t.co/ieZBXDIM0o
— Alexandre Laizet
Backsubscribed to 13,181,030 shares carrying four warrants each at €0.58 per unit, generating gross proceeds of roughly €7.64 million, or about US$8.8M at current exchange rates.
Closing was expected from September 3, though Capital B said technical requirements could delay completion by several days. Importantly, the 376 BTC figure represents potential capacity funded by the placement and ongoing operations – not coins already purchased.
Bitcoin News Today: How the Share-and-Warrant Financing Works
(SOURCE: CoinGecko)
The financing consists of shares with attached subscription warrants, known as ABSA, a structure Capital B has used repeatedly this year. Each of the 13.18 million shares carries four warrants, split across three tranches: two Warrants 2026-06 exercisable at €0.75, one Warrant 2026-07 exercisable at €0.98, and one Warrant 2026-08 exercisable at €1.27, all with five-year maturities.
Net proceeds from the placement are expected to reach approximately €7.3M after fees, and the subscription price represented a 15.4% premium to Capital B’s September 1 closing share price.
Full exercise of every warrant attached to this transaction could hand Capital B another €49.43M, separate from and conditional on the confirmed €7.6M raise.
Capital B can also open an accelerated exercise window if its 20-day volume-weighted average share price exceeds 130% of a given exercise price for 20 consecutive trading days, after which any unexercised warrants become void.
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Capital B’s Bitcoin Treasury Strategy
Capital B currently holds 3,145 BTC after buying 5 BTC for €280,000 in August at an average price of €55,882 per BTC, according to the company. That brought its aggregate acquisition cost for the strategic reserve to €284.2M.
The stated goal, as with other corporate Bitcoin accumulation strategies, is to increase BTC held per fully diluted share over time rather than simply grow total coin count.
The September 2 deal follows a separate €21M private placement announced Aug. 28, which could fund 270 BTC and take holdings from 3,145 BTC toward 3,415 BTC, a distinct transaction from this week’s 3,521 BTC target.
Capital B also ran a €15.2M placement in May that helped fund a €13M purchase of 192 BTC, structured similarly to how Strategy has financed its own Bitcoin purchases through capital markets.
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Adam Back’s Growing Capital B Stake
In other Bitcoin news, Back already held 54.3 million Capital B shares, or 14.82% of ordinary share capital, before this transaction. Once the new shares are issued, his ownership rises to roughly 67.49 million shares.
This equated to approximately 17.77% on an ordinary basis and 14.76% on a diluted basis. Full exercise of the warrants from this placement alone could push his stake to 27.80% on an ordinary basis and 23.36% on a diluted basis.
Capital B shareholders approved substantial financing authority in June, including up to €5Bn in capital increases, with more than 95% support from votes cast.
The equity-plus-warrant model mirrors broader questions about funding risk and investor dilution that have accompanied listed Bitcoin treasury vehicles, since warrant exercises create future share issuance contingent on price performance.
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The post Bitcoin News: Capital B Financing Could Add 376 BTC to Its Treasury appeared first on 99Bitcoins.
