French treasury management firm Capital B raised $1.1 million through an equity offering to purchase 13 additional bitcoin on September 28, expanding its cryptocurrency reserves under its core bitcoin treasury strategy.
The company issued 172,978 new ordinary shares at an average price of $6.45 per share, representing a 3.8% premium over the previous session's closing price. The issuance was executed under an at-the-market contract with asset management firm Tobam, which consolidated subscription requests submitted between September 14 and September 22.
Treasury Holdings and Performance
Capital B and its subsidiary Capital B Luxembourg SA now hold 3,538 bitcoin with a combined acquisition cost of $352.52 million, reflecting an average purchase price of $99,655 per bitcoin. At current Bitcoin prices above $83,000, the treasury's value sits near $294 million.
Year to date, the company reported a BTC Yield of 2.20%, representing a gain of 62.1 bitcoin, or approximately $5.22 million. For the third quarter alone, the yield stood at 0.34%. Capital B noted these metrics are used internally to evaluate treasury strategy and are not standard financial performance measures.
In addition to its main treasury reserve, the company holds 61 bitcoin for operational purposes kept separate from the reported indicators.
Market Context and Operations
The newly issued shares will be admitted to trading on Euronext Growth Paris. The transaction did not require prospectus approval from France's financial regulator, the Autorité des Marchés Financiers.
Swissquote Bank Europe executed the acquisition and serves as the sole custodian for Capital B's bitcoin holdings, utilizing custody solutions provided by Swiss technology firm Taurus.
