PANews reported on May 21, according to Bitcoin Magazine, that The Blockchain Group (ALTBG), a publicly listed company on the Paris Euronext, raised 8.6 million euros through a directed share issue and private placement to accelerate its Bitcoin reserve strategy. The issue price was 1.279 euros per share, a premium of 20.18% over the average price on the 20th, but a discount of 46.26% compared to the closing price on May 19.
Investors include institutions such as Robbie van den Oetelaar, TOBAM Bitcoin Opportunity Fund, and Quadrille Capital. The company stated that the funds will be used to increase its Bitcoin holdings and develop its data intelligence, artificial intelligence, and decentralized technology subsidiary businesses. Previously, on May 12, the company also raised 12.1 million euros by issuing convertible bonds to Blockstream CEO Adam Back.
