Swedish health tech company H100 Group AB has successfully closed two funding rounds, raising approximately SEK 516 million (around $54 million) to accelerate its Bitcoin accumulation strategy.
Funding Structure
The funding was conducted through a directed share issue and a convertible debenture issue. During tranche 6, 27.17 million shares were issued at a price of SEK 6.38 per share. The first tranche caused a dilution of about 10.1% of existing shareholders. If all convertible debentures from tranche 7 are converted, it could lead to an additional dilution of approximately 14.3%.
Bitcoin Accumulation Plans
The funds will support H100 Group's Bitcoin Treasury Strategy aimed at preserving capital and strengthening the balance sheet by investing in Bitcoin. Investors from these tranches also have rights to participate in future convertible debenture issues.
Previous Funding and Its Impact
This funding follows a previous agreement where H100 Group secured SEK 150 million (approximately $15.82 million) in a convertible loan guarantee from Blockstream CEO Adam Back to accelerate its BTC accumulation. Including all previous raises, the total capital secured to date amounts to SEK 921 million (approximately $96 million).
H100 Group continues to aggressively pursue its Bitcoin investment strategy, as evidenced by successful funding rounds and instilling confidence in its future ambitions in the crypto market.
