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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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H100 Group secures $15.8 million in funding from Adam Back to expand its Bitcoin strategy.
Gate News bot message, Swedish listed company H100 Group has reached an important investment agreement with Blockstream CEO Adam Back to support its Bitcoin strategy. The agreement also covers a 150 million Swedish Krona (approximately 15.82 million USD) convertible loan guarantee. According to H100 Group's long-term digital asset allocation strategy, the proceeds from this new investment will be purchased in the form of Bitcoin.
This investment is the sixth installment of H100 Group's broader financing plan. Adam Back has fully underwritten the sixth installment and has secured at least 37.5 million Swedish Krona. Additionally, he has the right (and is expected) to invest 75 million Swedish Krona in the upcoming seventh and eighth installments, respectively. The new two installments should be utilized within 90 days after the completion of the first two installments.
Convertible loans will be financed in batches according to the Swedish Companies Act, and will be conducted through a separate convertible loan agreement. These loans will continue until the company's processes and authorizations are completed. This will be achieved by developing a reliable Bitcoin vault without changing the operation of the company's core medical technology.
Convertible loans will be used as a source of funds for purchasing more Bitcoin. The H100 Group has made it clear that this digital asset strategy aims to enhance the group's long-term financial stability. The company plans to issue securities with a maximum amount of 750 million Swedish Krona (approximately 75 million USD) to enhance its influence in the digital currency market.
If all shares from the sixth batch are converted, it will result in the company issuing approximately 23.5 million additional shares. If fully converted, this batch of shares will dilute the company's shares by about 16.7% (based on the current total number of issued shares). However, this potential dilution aligns with the overall strategy of the H100 Group to strengthen its digital asset portfolio.
In addition, the company is committed to maintaining transparency regarding its evolving financial structure to investors. Therefore, this move reflects the company's careful consideration in balancing shareholder interests with long-term growth in digital finance.
Source: Livebitcoinnews