Norwegian firm K33 has announced the launch of a new share issue aimed at financing the purchase of up to 1000 bitcoins, with a minimum of SEK 85 million secured.
Terms of the Share Issue
The firm has appointed Pareto Securities AS as the sole manager and bookrunner for the Directed Share Issue. The subscription price per Offer Share will be SEK 0.1036. The minimum subscription amount will be approximately SEK 100,000 per investor, though K33 may also offer allocations below the SEK equivalent of 100,000 euros.
Bitcoin Accumulation Strategy
K33 stated that net proceeds from the share issue will be used to acquire bitcoins to strengthen its balance sheet. This decision is expected to unlock additional opportunities for the company as a broker and improve margins while enabling new product offerings. CEO Torbjorn Bull Jenssen commented, 'We expect Bitcoin to be the best-performing asset in the coming years and will build our balance sheet in Bitcoin moving forward.'
Application Period
The application period for the share issue will commence on June 18 at 09:00 CEST and is expected to close on June 19 at 17:30 CEST. K33 also announced the acquisition of 5 Bitcoins for a consideration of approximately SEK 5 million. The company outlined criteria for share allocation, which include pre-commitments, existing company ownership, and order size.
Thus, K33 is actively pursuing capital growth through its share issuance as it aims to strengthen its presence in the cryptocurrency space.
