2 days ago
Brazilian fintech Méliuz (CASH3), which serves implicit 30 cardinal users successful the country, is launching a nationalist stock offering to rise up to R$450 cardinal ($78 million), with plans to allocate each proceeds to purchasing bitcoin BTC.
The offering, announced Friday successful a securities filing, consists of an archetypal issuance of 17 cardinal communal shares, with the anticipation of expanding to 51 cardinal depending connected demand. Shares volition beryllium sold exclusively to nonrecreational investors successful Brazil and overseas nether automatic registration rules.
Each stock purchased volition travel with a bundle of escaped subscription warrants divided into 10 series, allowing investors to bargain further banal astatine acceptable prices successful the future.
At existent stock prices, Méliuz expects to rise astir $26 million, but that fig could triple if overallotment options are exercised.
Investors participating successful the offering volition besides person 50.6 cardinal warrants, of which up to 152 cardinal volition beryllium issued successful full nether maximum subscription conditions.
Méliuz volition usage the raised funds to get BTC, positioning it arsenic a "primary strategical asset" successful its treasury. The firm, known for its cashback and fiscal services platform, revealed it was allocating 10% of its currency reserves to BTC backmost successful March.
Warrant trading is expected to statesman connected June 16, with stock colony and crediting of the bonus instruments by June 18.
The institution presently holds 320.2 BTC. Its shares dropped much than 8% successful Friday’s trading session.
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