Massive Surge: H100 Group Shares Soar as Bitcoin Strategy Gains Steam
Following the announcement that it had raised 101 million Swedish krona ($10.6 million) to expedite the company’s Bitcoin treasury plan, the Swedish health IT company H100 Group AB saw a 45% increase in value on Wednesday. MarketWatch data indicate that the Nordic Growth Market’s H100 closed at 4.64 krona (approximately US$0.49). The stock price has risen by 280% since the company’s May 22 announcement of its Bitcoin plan. The $10.6 million raise is almost five times the amount of the $2.2 million it raised on May 25 under the leadership of Bitcoin cypherpunk Adam Back.
Bitcoin Strategy Accelerates: H100 to Grow Treasury Nearly 6X
A growing trend of publicly traded companies adding Bitcoin to their balance sheets globally is reflected in H100’s most recent increase to purchase more of the cryptocurrency. The raise was divided between convertible loans, which contributed 31.35 million krona ($3.29 million), and two share issues, each at 69.65 million krona ($7.31 million).
According to H100, the company’s Bitcoin treasury strategy will be expedited using the net proceeds from the two share offers. That might enable the company that focuses on health and longevity to purchase about 67.1 Bitcoin, increasing its total to 81.85 BTC from its current 13.95 BTC.
UTXO Management and Nordic Investors Back H100’s Bitcoin Treasury Vision
Adam Back, UTXO Management, a Bitcoin investment business, and several Nordic investment firms, including Race Ventures Scandinavia and Crafoord Capital Partners, participated in the share offerings. The convertible loans mature in five years and are interest-free. According to H100, investors can turn the loans into stock at a price of 1.75 krona per share. Originally agreed upon at 21 million krona, the raise, known as “Tranche 1,” was increased to 31.35 million krona.
The values of individual sovereignty highly present in the Bitcoin community aligns well with, and will appeal to, the customers and communities we are building the H100 platform for,
H100 CEO, Sander Andersen
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