Sweden-based H100 Group, a publicly traded health and lifetime company that recently adopted a Bitcoin
Strategy said it has raised $ 10.5 million (SEK 101 million) from a group of cryptophocused investors, including Blockstream CEO Adam Back, Utxo Management and several family offices.
According to a press release Wednesday, fundraising was divided between SEK 69.65 million in two share editions and SEK 31.35 million in convertible loans.
The share problems saw participation from a mixture of cryptoinvestors and Nordic family offices. The convertible loans have no interest and mature in five years. Investors can convert the loans to equity of SEK 1.75 per year. Stock.
The H100 shares advanced another 30% in the Wednesday session and have now achieved almost 400% since the company’s first BTC purchase on May 22.
This was the first tranche of a wider financing plan that was first announced earlier and could grow further in future rounds, the company says. H100S stated goal is to use the capital to strengthen its BTC Treasury strategy.
H100 Group, led by CEO Sander Andersen, is part of a growing trend for public companies that raise funds through stock and debt issues to buy cryptocurrencies for their balance, a playbook popularized by Michael Saylor’s strategy (Mstr).
