Capital B, a Bitcoin treasury management company based in France, announced on Monday that it has raised €15.2 million ($17.8 million) to accelerate its Bitcoin accumulation strategy.
According to its press release, the company raised funds by privately issuing 23 million shares of ABSA stock, with each share accompanied by four warrants, at an issuance price of €0.66 per share.
The company stated: "If all warrants related to this transaction are exercised, it would result in an additional capital increase of €99.1 million ($116.6 million) through the issuance of 92,155,376 additional ordinary shares."
The company plans to use its net proceeds (expected to be €14.4 million, approximately $17 million) to bolster its Bitcoin reserves. The company stated that this funding, combined with ongoing operations, will enable it to acquire 182 Bitcoin, bringing Capital B’s total Bitcoin holdings to 3,125.
Capital B stated that global investors, including the CEO of Blockstream, participated in the latest funding round, along with Bitcoin pioneer Adam Back and the French asset management company Tobam.
After the transaction, Adam Back will hold 13.43% of the company’s common shares, and TOBAM will hold 4.20%. Blockstream Capital Partners, advised by Back, will hold 14.42% of the company, down from 15.63% prior to the financing.
The press release states that this private placement is expected to be completed as early as May 13.
Capital B, originally named The Blockchain Group, renamed itself Capital B in July 2025 to focus on its Bitcoin treasury strategy.