James Richardson
The Blockchain Group (ALTBG), a company publicly traded on Euronext Growth Paris, has successfully raised €11 million (approximately $13 million) in fresh capital to accelerate its transition into Europe’s premier Bitcoin treasury firm.
The recent fundraising consisted of two key components:
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A €1 million capital increase, priced at €5.251 per share, executed via an ATM-style agreement with asset management firm TOBAM.
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The issuance of €10 million in convertible bonds through ALTBG’s Luxembourg-based subsidiary, priced at €5.174 per share, marking a 30% premium over the closing price as of June 27.
Major Backers: TOBAM and Adam Back
Backing this initiative are two prominent names in the crypto space:
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TOBAM, a leading asset manager, subscribed to €5 million worth of the convertible bonds.
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Adam Back, a legendary Bitcoin pioneer and CEO of Blockstream, also contributed around €5 million, signaling strong confidence in ALTBG’s vision.
Bitcoin Holdings and Market Reaction
Currently, The Blockchain Group holds 1,794 BTC, strengthening its position as a crypto-forward financial institution. Following the announcement, the company’s share price rose by 1% on Tuesday, reflecting positive market sentiment.
This strategic move highlights ALTBG’s commitment to enhancing shareholder value through increased Bitcoin exposure, placing it at the forefront of the growing trend of digital asset treasuries in Europe.
