H100 Group AB Secures Funding to Bolster Bitcoin Reserves
H100 Group AB, a health technology firm based in Sweden, has recently finalized a funding deal amounting to $2.2 million, primarily aimed at bolstering its Bitcoin reserves. The financing was spearheaded by Adam Back, the CEO of Blockstream, who contributed approximately $1.4 million himself. The remaining sum of $800,000 came from various investment firms. This investment will be structured as convertible bonds offering a 0% interest rate, reflecting the company’s strategy to enhance its holdings of Bitcoin.
Plans for Bitcoin Acquisition
As of their latest announcement on May 25, H100 plans to use these funds to acquire about 20.18 additional bitcoins at current market prices. This acquisition will complement their previous purchase of 4.39 bitcoins made on May 22, resulting in total potential holdings of about 24.57 BTC.
The issued convertible bonds will have a maturity date set for June 15, 2028, allowing them to be converted into company shares at a price of 1.3 Swedish kronor (approximately $0.11) each. Should H100’s stock deliver a sustained increase of over 33% for 60 consecutive days, the company holds the right to expedite the conversion process.
Impact on Stock and Market Position
Following this strategic move to include Bitcoin in its asset portfolio, H100 Group has seen a significant upswing in its stock, which has climbed more than 40% since May 22. This initiative marks H100 as the first publicly-traded entity in Sweden to adopt a Bitcoin treasury strategy, underscoring its commitment to the principles of individual autonomy and financial independence within the digital currency landscape.
