Key Highlights
- Capital B raises €7.6M from Adam Back as Funding could help the company buy 376 additional BTC.
- Attached warrants could also provide up to €49.4 million in additional capital.
- Capital B’s potential Bitcoin holdings could reach 3,521 BTC.
The French-based tech company Capital B is stepping up its Bitcoin treasury strategy with a fresh €7.6 million capital raise backed by Adam Back.
The company announced the private placement on September 2. The funding will be used to support its plan to buy more Bitcoin.
This marks a big raise for Capital B which is listed on Euronext Growth Paris under the ticker ALCPB. It also trades in the US under CPTLF. The company describes itself as Europe’s first Bitcoin Treasury Company.
Adam Back backs Capital B With Fresh Funding
As per the company’s press release, the latest Adam Back funding to Capital B was completed through the issuance of 13,181,030 shares. The shares were priced at €0.58 each. Four share subscription warrants are attached to every new share.
The €0.58 issue price also represents a 15.4% premium to Capital B’s closing share price on September 1.The €7.6 million investment was subscribed by strategic investor Adam Back.
Back’s investment makes it significant as he is a well-known figure in the Bitcoin industry as the CEO of Blockstream and has been involved in Bitcoin and cryptography for many years.
The deal gives Capital B fresh capital at a time when companies are increasingly using Bitcoin as a treasury asset. Recently, Strategy’s Michael Saylor has also hinted at resuming Bitcoin purchase.
The investment also increases Adam Back’s stake in Capital B. His ownership will rise from 14.82% to 17.77% after the placement. If all the warrants issued in the deal are exercised, his stake could climb to 27.8%. However, Blockstream Capital Partners remains Capital B’s largest shareholder, with an 18.91% stake even after the placement.
Capital B could add 376 Bitcoin
Capital B said the new funding strengthens its existing Bitcoin accumulation strategy. The proceeds, together with its ongoing operations, could allow it to acquire 376 additional BTC.
If completed, this would take its total Bitcoin holdings to 3,521 BTC. Capital B’s Director of Bitcoin Strategy Alexandre Laizet informed that the company is focused on increasing its Bitcoin holdings over time. It aims to build its Bitcoin treasury on a fully diluted basis.
Interestingly, the deal can also give it access to more capital through the attached warrants. If all the warrants issued as part of the transaction are exercised, the company could raise an additional €49.4 million.
That would come from the issuance of 52,724,120 ordinary shares.
Each share comes with two Warrants 2026-06, one Warrant 2026-07 and one Warrant 2026-08. The warrants have different exercise prices ranging from €0.75 to €1.27.
The company can also trigger an accelerated exercise period under certain conditions. This could happen if its share price stays above the relevant exercise price for a set period.
Thus, for Capital B, the latest transaction is another step toward building a larger Bitcoin reserve.
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