H100 raised $2.2 million to buy Bitcoin and shift its financial strategy toward digital assets.
Adam Back led the funding round with $1.4 million supporting H100’s Bitcoin treasury plan.
H100 became the first public firm in Sweden to adopt a Bitcoin treasury policy.
Swedish health tech company H100 Group AB has raised 21 million Swedish krona, or $2.2 million, in fresh capital. Blockstream CEO Adam Back led the funding round, contributing nearly $1.4 million. The rest came from investment firms including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners.
https://twitter.com/Cointelegraph/status/1926813103703859418 Funds Targeted for Bitcoin Acquisition
H100 confirmed on May 25 that the funds will be used to purchase Bitcoin. This follows its recent announcement on May 22 to shift toward holding Bitcoin as a treasury asset. The company secured the funds through convertible loans bearing 0% interest. These loans mature on June 15, 2028.
The loans can convert into shares at a fixed rate of 1.3 Swedish krona, or 11 US cents, per share. This provides flexibility for both H100 and its investors while supporting its long-term treasury plans.
Potential Equity Conversion Clause in Place
If H100’s share price holds an average 33% above the conversion price for 60 trading days, a full conversion can be enforced. This would lead to the issuance of around 16.15 million new shares. The resulting share dilution would be about 12%.
H100 has already used part of the funding to purchase 4.39 Bitcoin. At current market prices, the full raise will allow it to acquire around 20.18 more Bitcoin. This would bring its total Bitcoin holdings to approximately 24.57.
Following the May 22 announcement, H100’s stock jumped 37%. The next day, it climbed another 5.33%, reaching 1.29 SEK, or 14 US cents. Market response suggests strong investor interest in the company’s pivot toward a Bitcoin treasury model.
H100 Positions Itself as Bitcoin-Aligned Health Tech Platform
H100 develops health tools aimed at individuals seeking alternatives to conventional healthcare systems. The company believes Bitcoin’s values align with its mission. This positioning may attract customers who prioritize personal sovereignty and self-reliance.
H100 claims to be the first public company in Sweden to adopt a Bitcoin treasury policy. It also ranks among the first in Europe to do so. Data from BitcoinTreasuries.NET shows 112 public companies now hold Bitcoin. Only ten are based in Europe, placing H100 in a small but growing group. H100’s strategy reflects a broader trend of corporations integrating Bitcoin into financial planning.
