Brazilian Fintech -Firma Meliuz (Cash3) Plans to gather R180.08 million ($ 32.4 million) through an equity offer, according to a filing.

The financing is earmarked specifically for the purchase of Bitcoin, which adapts to the company’s recent strategic shifts to incorporate Bitcoin into its balance.

Offer, Price for R7.06 ($ 1.27) per Share, was approx. 5% less than Meliuz’s closure course of R7.43 Thursday. The share has fallen more than 5% in today’s trade.

BTG Pactual served as a book runner for the agreement according to the filing.

Earlier this year, Meliuz announced that the company is planning to raise $ 78 million in equity to become “the first Bitcoin Treasury Company” in Brazil.

Fintech Company, who calls itself “3rd fastest growing shopping app in Brazil”, boasts about 41 million loyal users from the first quarter of this year, according to a presentation. The company currently has a market capital of R647.08m ($ 116.5 million) according to TradingView data.