H100 Group Raises Another SEK 150 Million with Adam Back
Fueling the Nordic Bitcoin standard - one tranche at a time.
By NordicsBitcoin.com Staff 16/6/15
Swedish-listed H100 Group AB has announced a major milestone in its Bitcoin treasury strategy, securing a further SEK 150 million convertible loan investment from renowned Bitcoiner and Blockstream CEO, Adam Back. The deal marks the acceleration of H100’s capital raising plan, with Tranche 6 signaling further institutional momentum behind Nordic Bitcoin adoption.
Adam Back Underwrites Tranche 6 with Potential Upside to SEK 300 Million More
Under the newly signed Investment Agreement, Adam Back commits to fully underwrite Tranche 6 with a guaranteed investment of SEK 150 million. In addition, he is granted the exclusive right to trigger Tranches 7 and 8, each worth SEK 75 million, within 90 days of the preceding tranche. Should all tranches be exercised, H100 Group could raise up to SEK 300 million more, for a total of SEK 450 million directly from Back, and a combined total of up to SEK 750 million.
Capital Raise Structured as Convertible Loan at Significant Premium
Each tranche will be issued as a convertible loan under Swedish law, with conversion prices pre-agreed to reflect a 33% premium over prior closing prices:
Tranche 6: SEK 6.38/share (33% premium to 13 June close)
Tranche 7: SEK 8.48/share
Tranche 8: SEK 11.27/share
Assuming full conversion of Tranche 6, approximately 23.5 million new shares would be issued, corresponding to a 16.7% dilution on a post-conversion basis (excluding fully diluted calculations from previous instruments).
Purpose: Accelerating Bitcoin Acquisition
As H100 CEO Sander Anderson has previously emphasized, proceeds from this and prior raises will be used to accelerate the Company’s Bitcoin Treasury strategy. This latest tranche further cements H100 Group’s position as the leading Nordic vehicle for institutional Bitcoin accumulation. With a model of aggressive and transparent BTC acquisition, H100 is emerging as the Nordics’ answer to France’s The Blockchain Group and the UK’s The Smarter Web Company.
Both companies have demonstrated the effectiveness of aggressive Bitcoin accumulation paired with clear, strategic market communication - two key drivers behind their stock market success and appeal to capital backers. H100 appears to be following a similar playbook.
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