Key facts
- Capital B shareholders approved up to $120.4 billion in financing capacity.
- The financing includes equity and credit instruments to fund Bitcoin acquisitions.
- Shareholders approved up to 5 billion euros in capital increases and 100 billion euros in credit instruments.
- The company aims to increase the number of Bitcoin per fully diluted share.
- The company changed its name from The Blockchain Group to Capital B.
- Capital B holds 3,139 BTC, valued at approximately $200 million.
Capital B, a Bitcoin treasury company listed in France, has received shareholder approval for significant financing capacity to bolster its Bitcoin acquisition strategy. The company announced that shareholders approved a delegation of new capital-raising instruments, potentially bringing in up to 105 billion euros ($120.4 billion).
This approval includes the establishment of capital increases of up to 5 billion euros, which could result in the issuance of up to 125 billion new shares. Additionally, shareholders authorized the issuance of up to 100 billion euros in credit instruments. Capital B stated that these measures are intended to accelerate its strategy of increasing its Bitcoin holdings per fully diluted share.
During the general meeting, it was noted that Capital B has 300.65 million total shares with voting rights. If all new shares were issued, existing shareholders could see their ownership diluted to approximately 0.24%.
In conjunction with the financing approval, shareholders also voted to change the company's name from The Blockchain Group to Capital B, aligning its corporate identity with its commercial brand. The company currently holds 3,139 BTC, valued at approximately $200 million, making it Europe's second-largest Bitcoin treasury company behind Germany's Bitcoin Group SE.
Capital B has raised a total of about $325 million to date, including a recent $17.8 million round from strategic investors such as Blockstream CEO Adam Back and asset manager TOBAM. This move contrasts with some other treasury companies that are reducing or actively managing their Bitcoin exposure, such as Sequans Communications, which announced plans to monetize its holdings.