Norwegian digital asset firm K33 has announced plans to issue shares to raise capital for acquiring up to 1000 bitcoins.
Details of the Share Issue
In an official press release, K33 declared its intention to issue new shares to raise at least 85 million Swedish krona, approximately 8.8 million USD. The subscription price per share is set at 0.1036 SEK, matching the closing price on Nasdaq First North Growth Market as of June 17.
Company Goals and Insights
The capital raised from share sales will be directed towards adding more bitcoins to the company's balance sheet. According to the release, K33 aims to purchase up to 1000 BTC, which will allow for greater asset diversification and improved financial margins. CEO Torbjørn Bull Jenssen stated, "We strongly believe that Bitcoin represents the future of global finance and are positioning K33 to benefit maximally from this."
Subscription Process and Timeline
The subscription window is set to open on June 18 at 09:00 CEST and close on June 19 at 17:30 CEST, although the dates are subject to change. By applying for shares, investors will automatically vote in favor of item 9 at an Extraordinary General Meeting on July 3, authorizing the board to issue shares. Share allocations will be decided by the board based on order size and other factors, with notifications expected around June 23.
Throughout this year, K33 has been accelerating its Bitcoin accumulation strategy, and the new share issue is part of this effort to strengthen its position in the digital asset market.
