Adam Back boosts stake in Capital B via €7.6 million private placement

The transaction, finalized on September 2, saw Back acquire units at €0.58 each—a 15.4% premium over the company’s previous closing price. This capital infusion, paired with ongoing operational resources, is earmarked for the acquisition of 376 additional Bitcoin. Capital B currently maintains a reserve of 3,145 BTC, following a series of aggressive purchases throughout August.

Beyond the immediate cash injection, the agreement features a complex warrant structure that could unlock an additional €49.4 million in future capital. Each share issued comes with four warrants, exercisable at prices ranging from €0.75 to €1.27 over the next five years. Following this issuance, Back’s ordinary share ownership in the firm will climb to 17.77%. The company is also preparing for a 10-for-1 reverse stock split on September 8, which will necessitate proportional adjustments to both share counts and warrant exercise prices.