The Norwegian Crypto firm K33 said on Wednesday that it plans to raise a minimum of 85 million Swedish Chron ($ 8.9 million) through a share issue to buy up to 1,000 bitcoins for its company’s store.
According For Wednesday’s announcement, K33 has appointed Pareto Securities as its manager and bookrunner in a share issue. The membership price per share is $ 0.011. K33 is expected to issue at least 820 million shares.
The company said, “Pure income from the directed stock issue will be used to buy bitcoin (…) to keep it on the balance sheet.” This step follows K33 before Announcement that it received financing To get up to 57 bitcoins (BTC) late May.
The K33 also said that bitcoin exposure will also “unlock the real operational length for the company as a broker.”
The company hopes to improve their margins, enabling new products offerings and strengthening their appeal to institutional customers. As part of the initiative, K33 confirmed Purchase At 5 BTC on Tuesday, the value of about $ 523,000 at that time.
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Funds raised through share issues
The company said the stock offer would not be distributed to the courts joining the United States, Canada, Australia, Russia, South Korea, or any other jurisdiction, where the product offering would be illegal.
K33 CEO Turbazoran Bull Jensssen said that funding is a step towards getting 1,000 BTC, plans to grow further to Bitcoin Treasury in future:
“A strong balance sheet built on bitcoin enables us to greatly improve our brokerage operation, maintaining a full risk of bitcoin’s reverse capacity.”
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Norwegian firms jump into bitcoin
The K33 step follows a broader tendency among the Norwegian companies investing in bitcoin. Earlier this month, Norwegian Block Exchange Saw its stock jump over 138% After the announcement, he will start holding bitcoins on his balance sheet in a single day.
Akar Asa, a Norwegian Industrial Holding Company, created In 2021, a subsidiary called Seatake, which is devoted to investing completely in bitcoin and keeping cryptocurrency. Bitcointreasuries.net data This shows that this subsidiary now has 754 BTC, which costs more than $ 63 million at the time of writing.
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