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Capital B, a European bitcoin treasury institution listed successful Paris, raised €15.2 cardinal connected May 11, 2026, done a backstage placement backed by organization investors, including Blockstream CEO Adam Back and French plus manager TOBAM.
Key Takeaways
- Capital B raises €15.2 cardinal via backstage placement connected May 11, 2026, targeting 182 further BTC for its treasury.
- Adam Back joins arsenic a strategical investor, lifting his involvement to 13.43% arsenic Capital B eyes 15,000 BTC by the extremity of 2027.
- Full warrant workout could make €99.1 cardinal more, giving Capital B substance for continued bitcoin accumulation.
Capital B Closes €15.2M Round to Grow Bitcoin Treasury Toward 15,000 BTC Target
According to the announcement, the steadfast sold 23,038,844 units, each comprising 1 mean stock and 4 stock subscription warrants, astatine €0.66 per unit. The institution trades connected Euronext Growth Paris nether the ticker ALCPB and connected the U.S. OTC marketplace arsenic CPTLF.
Net proceeds aft fees full astir €14.4 million. Capital B plans to usage the funds to bargain astir 182 further bitcoin, pushing its full holdings from 2,943 BTC to astir 3,125 BTC.
Maxim Group LLC led the placement arsenic pb agent, with Marex S.A. serving arsenic co-manager. Closing is expected connected oregon astir May 13, 2026. The pricing was acceptable astatine the five-day volume-weighted mean terms up of the deal, representing a 1.51% premium to Capital B’s closing stock terms connected May 8, 2026.
Each portion carries 4 attached warrants exercisable implicit 5 years astatine escalating prices: 2 Warrant 2026-03 tranches astatine €0.86, 1 Warrant 2026-04 astatine €1.12, and 1 Warrant 2026-05 astatine €1.46. If each warrants are exercised, the institution could rise an further €99.1 cardinal done 92,155,376 caller shares.
The institution tin accelerate warrant workout astatine its discretion if its 20-day VWAP exceeds 130% of the applicable workout terms for immoderate tranche.
Adam Back, inventor of Hashcash and CEO of Blockstream, participated successful the round. Following the transaction, Back holds astir 13.43% of Capital B connected an mean stock basis. Blockstream Capital Partners, which Back advises, holds astir 14.42%. TOBAM, a French quantitative plus manager with a crypto focus, holds astir 4.2% post-transaction.
Back besides subscribed to a abstracted €1.1 cardinal warrant transaction successful aboriginal May 2026, reflecting continued assurance successful the company’s direction.
Capital B rebranded and pivoted to a bitcoin treasury institution strategy successful precocious 2024. The steadfast structures its operations astir a azygous semipermanent goal: expanding the magnitude of bitcoin held per afloat diluted stock implicit time.
The institution has an intermediate people of 15,000 BTC by the extremity of 2027 and a semipermanent extremity of accumulating astir 210,000 BTC, adjacent to 1% of Bitcoin’s full supply, by 2033. It funds purchases done equity raises, convertible instruments, and at-the-market (ATM) programs, without relying connected operational currency travel alone.
Capital B maintains subsidiaries focused connected information intelligence, AI, and decentralized exertion consulting. The company’s mean acquisition outgo crossed its existent holdings sits astatine astir €92,000 per bitcoin.
Shares are admitted to trading connected Euronext Growth Paris nether ISIN FR0011053636. The caller shares issued done the ABSA volition commercialized connected the aforesaid enactment arsenic existing shares upon closing.
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