Refine Group AB secured new capital of SEK 5 million through a share placement, strengthening its Bitcoin accumulation strategy and deepening its presence in the digital asset sector.
Successful Share Placement
Refine Group announced the allocation of 17,241,382 new shares at a price of SEK 0.290 per share, in line with the volume-weighted average price as of July 23. This strategic round attracted a select group of investors, including existing shareholders, with Caldas Capital—led by seasoned crypto investor João Caldas—emerging as the largest participant.
New Digital Assets Strategy
According to the company, the capital will be directed towards initiatives aligned with its newly launched Digital Assets division. This division, serving as the third pillar of Refine’s operations, positions Bitcoin as a long-term store of value and an integral element of the company’s financial resilience. CEO David Wallinder described the capital raise as a key step in executing the company’s crypto-focused roadmap.
Cryptocurrency Market
To accelerate execution, the board opted for a directed share issue rather than a rights offering. This choice was made to secure capital quickly, reduce underwriting costs, and seize opportunities in the fast-paced Bitcoin marketplace. The share issue resulted in an increase in the total outstanding shares from 121.9 million to 139.1 million, leading to a dilution of approximately 12.39% for existing shareholders.
In conclusion, the share placement allows Refine Group to solidify its position within the cryptocurrency sector while continuing to advance its Bitcoin accumulation strategy, which may positively affect its financial resilience.
