Bitcoin investment firm H100 Group secures $54 million in funding for its Bitcoin Treasury Strategy
In a recent development, H100 Group, a Swedish health technology company, has secured a convertible loan of approximately $15.82 million. This funding round, announced in June, is part of the company's ongoing Bitcoin accumulation strategy.
The convertible loan follows an earlier raise in May, where H100 brought in SEK 21 million ($2.2 million) through 0% interest convertible loans. The latest funding round was guaranteed by Blockstream CEO Adam Back.
The funds from this latest funding round will support H100 Group's Bitcoin Treasury Strategy. This strategy aims to preserve capital and strengthen the balance sheet by investing in Bitcoin. As a result, H100 Group now holds a total of 294.5 Bitcoin. This figure includes an additional 46.93 Bitcoin purchased for approximately SEK 49.5 million, with an average price of SEK 1,054,701 per BTC.
The funding rounds, which include a directed share issue (Tranche 6) and a directed convertible debenture issue (Tranche 7), have raised a total of SEK 921 million (approximately $96 million) for H100 Group. Tranche 7 raised SEK 342.3 million and has a conversion price of SEK 8.48.
The directed share issue diluted existing shareholders by about 10.1%, while if all convertible debentures from Tranche 7 are converted, it could cause an additional dilution of around 14.3%.
Investors in the May raise included Adam Back, Morten Klein, and Crafoord Capital Partners. The initial $490,000 purchase of 4.39 BTC in May by H100 Group resulted in a nearly 40% increase in the company's shares. This increase prompted H100 Group to further invest in Bitcoin, ramping up its Bitcoin accumulation strategy.
Notably, H100 Group's Bitcoin holdings are not limited to the recently purchased Bitcoins. According to BitcoinTreasuries, the company currently holds 247.5 BTC on its balance sheet.
Investors from these tranches have the right to participate in a future Tranche 8. Tranche 8 will be another convertible debenture issuance with a conversion price set 33% higher than Tranche 7.
H100 Group's Bitcoin accumulation strategy has been funded through a combination of financial instruments, including the recent $54 million funding round achieved via stock and convertible bond offerings, as well as a SEK 516 million raise through a directed share issue and a convertible debenture offering.
This strategic investment in Bitcoin is part of H100 Group's broader vision to leverage technology to improve health and wellness outcomes.
- The recent funding round, guaranteed by Blockstream CEO Adam Back, was secured by H100 Group, a Swedish health technology company, and will support their Bitcoin Treasury Strategy, which aims to invest in Bitcoin.
- As a result of their Bitcoin accumulation strategy, H100 Group now holds a total of 294.5 Bitcoin, including an additional 46.93 Bitcoin purchased for approximately SEK 49.5 million.
- The funds from this latest round, along with previous raises, have been used by H100 Group to invest in Bitcoin as part of their strategy to preserve capital and strengthen the balance sheet.
- H100 Group's strategic investment in Bitcoin is part of their broader vision to leverage technology, not just in Bitcoin investments, but also to improve health and wellness outcomes. This investment could be seen as a move in the crypto finance industry, demonstrating the potential of technology in various sectors, including finance and health technology.
