Key facts
- Capital B, a European Bitcoin treasury company, will conduct a 10-for-1 reverse stock split.
- The split aims to attract a wider institutional investor base.
- The conversion will reduce the number of shares to approximately 30.1 million from 300.7 million.
- Each new share will represent 10 existing shares with a par value of 0.80 euros.
- The conversion is scheduled for September 8 and will not change the aggregate value of holdings.
- Capital B holds 3,139 Bitcoin.
Capital B, identified as Europe's second-largest Bitcoin treasury company, has announced plans for a 10-for-1 reverse stock split. This strategic move is designed to enhance its appeal to institutional investors and broaden its shareholder base. The consolidation will reduce the total number of outstanding shares from approximately 300.7 million to about 30.1 million. Each new share will represent ten old shares and will have a par value of 0.80 euros ($0.90), an increase from the previous 0.08 euros. The conversion is set to occur automatically on September 8, with no change expected in the aggregate value of investors' holdings. This action follows a recent shareholder approval for up to 105 billion euros in financing capacity to support the company's Bitcoin acquisition strategy. As of the report, Capital B holds 3,139 Bitcoin, placing it behind Germany's Bitcoin Group SE, which holds 3,605 BTC.