Blockchain Group Completes Capital Raising of Over 22 Million Euros
Blockchain Group (ALTBG), a publicly listed company in Europe, has completed two fundraising rounds totaling over 22 million euros in just one week. On May 9, ALTBG raised 9.9 million euros through equity, with an issuance price that was 61.7% higher than the average price 20 days prior. Present investors included Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, and VP Bank.
Issuance of Bitcoin-Denominated Convertible Bonds
On May 12, ALTBG issued Bitcoin-denominated convertible bonds worth 12.1 million euros through its subsidiary in Luxembourg. The entire bond was purchased by Adam Back, the CEO of Blockstream, at an issuance price that was 30% higher than the conversion price of the first tranche.
Strategy and Innovation
The capital raised will be used by ALTBG to increase its Bitcoin holdings and develop ancillary business sectors such as data intelligence and AI. As a core member of 'Bitcoin For Corporates', the company is exploring innovations in capital structure, emphasizing Bitcoin-denominated bonds and hard asset reserve strategies.
Source: https://tintucbitcoin.com/goi-von-22-trieu-eur-the-blockchain-tang-toc-chien-luoc-bitcoin/
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