Capital B raises €21M to expand Bitcoin treasury

Euronext Growth Paris-listed firm Capital B announced a €21 million private placement to expand its corporate Bitcoin treasury strategy. The transaction involved major institutional and strategic investors, including Blockstream co-founder Adam Back and Paris-based asset manager TOBAM. Under the terms, Capital B issued approximately 36.2 million shares at €0.58 per unit, representing a 6.45% discount to the preceding closing price, with four subscription warrants attached to each share. Net proceeds from the placement are estimated at €19.9 million after expenses and placement fees. The company stated that the capital injection, along with existing operational funds, could enable the purchase of roughly 270 additional Bitcoin, boosting total treasury holdings from 3,145 BTC to approximately 3,415 BTC. Additionally, potential full exercise of the accompanying five-year warrants across three price tranches could generate up to €135.8 million in conditional capital. This funding illustrates the broadening institutional adoption of corporate Bitcoin reserves in European capital markets, mirroring equity-financed treasury expansion models to build sustained demand for digital assets.