Norwegian crypto company K33 said on Wednesday that the company plans to raise at least 85 million Swedish kronor (US$8.9 million) through a stock offering to buy up to 1,000 bitcoins in the company’s reserves.
according to Announced the news, K33 has appointed Pareto Securities as its manager and study for its shareholding issues. Subscription price per share is $0.011. K33 is expected to issue at least 820 million shares.
“The net proceeds from the instructed share issuance will be used to purchase Bitcoin (…) to retain the balance sheet,” the company said. The move was ahead of K33. Announced it received financing Up to 57 bitcoins can be obtained (BTC) Late May.
K33 also said that Bitcoin’s exposure will also “release the company’s real operating leverage as a broker.”
The company expects holdings to increase profit margins, realize new products, and strengthen attractiveness to institutional customers. As part of the program, K33 confirmed Buy The 5 BTC at the time was worth about $523,000.
Funds raised by sharing questions
The company added that the share issuance will not be allocated in the United States, Canada, Australia, Russia, South Korea or any other jurisdiction that provides products illegally.
K33 CEO TorbjørnBull Jenssen said fundraising is a step towards 1,000 BTC and plans to further develop the Bitcoin Treasury in the future:
“The strong balance sheet built on Bitcoin allows us to significantly improve our brokerage business while maintaining the upward potential of all exposure to Bitcoin.”
Related: New Bitcoin Treasury could rupture under price pressure
Norwegian company jumps into Bitcoin
K33’s move follows a broader trend for Norwegian companies that invest in Bitcoin. Earlier this month, Norwegian neighborhood exchange See its stock jumps by more than 138% A day after announcing that it will begin holding Bitcoin on the balance sheet.
Norwegian industrial holding company Aker Asa, Aker Asa, create A subsidiary called Seetek is fully committed to investing in Bitcoin and holding cryptocurrencies in 2021. BitcoinReasuries.net data It shows that the subsidiary now holds 754 BTC, worth over $63 million at the time of writing.
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