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Sweden’s H100 much than tripled its Bitcoin holdings to 3,506 BTC aft completing an acquisition involving 2,455 BTC.
Sweden-listed health-tech and Bitcoin treasury institution H100 Group completed its acquisition of Norwegian Bitcoin companies holding 2,455 Bitcoin (BTC), much than tripling its Bitcoin treasury to 3,506 BTC.
The transaction progressive nary currency consideration, with H100 issuing 790.5 cardinal caller shares to the sellers, the institution said successful a Monday property release.
The recently issued shares diluted existing shareholders by astir 70%. H100 priced them astatine 1.86 Swedish kronor ($0.20) each, valuing the transaction astatine astir 1.47 cardinal kronor ($155 million).
H100 said the information was calculated connected a 1:1 “Bitcoin-for-Bitcoin” basis, with the fig of shares issued determined by the sellers’ proportionate stock of the combined Bitcoin holdings of H100 and the acquired companies. Other assets and liabilities were excluded from the calculation.
The acquisition brought the worth of H100’s Bitcoin holdings to astir $228 million, making it Europe’s second-largest Bitcoin treasury institution by holdings, down Germany’s Bitcoin Group SE with 3,605 BTC, according to BitcoinTreasuries.
H100 archetypal announced the woody successful March, erstwhile it signed a missive of intent to get privately held Norwegian Bitcoin companies Moonshot and Never Say Die, on with their Bitcoin holdings.
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