In a curious twist of fate, the illustrious Blockstream CEO, Adam Back, has taken the reins of a grand funding escapade, leading a staggering 21 million Swedish krona (or a mere $2.2 million, if you prefer the American way) for the enigmatic health tech company, H100 Group AB. This company, which recently declared its intention to embark on a Bitcoin-buying spree, is now the talk of the town! 🤑
On the fateful day of May 25, H100 proclaimed that these funds, procured through the miraculous 0% interest convertible loans, would be utilized to acquire Bitcoin (BTC) as part of their audacious pivot announced just three days prior. Talk about a sudden change of heart! 💔
Our dear Adam, a seasoned Bitcoin cypherpunk, generously contributed around $1.4 million, while the remaining $800,000 was graciously bestowed by investment firms with names that sound like they belong in a fairy tale: Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners. What a motley crew! 🎩
This funding bonanza would enable H100 to procure approximately 20.18 Bitcoin at the current market prices, adding to the 4.39 Bitcoin they snatched up on May 22, thus bringing their total treasure trove to a delightful 24.57 Bitcoin. Who knew health tech could be so lucrative? 💰
H100, in its infinite wisdom, declared that these convertible loans bear no interest and will mature on June 15, 2028. Yes, you heard that right! The loan can be transformed into shares at any time, at a conversion rate of 1.3 Swedish krona (11 US cents) per share. What a deal! 🥳
Should H100’s share price maintain a volume-weighted average price exceeding 33% above the conversion price for a cumulative total of 60 trading days, they have the audacity to mandate a conversion of the loan into equity. Oh, the drama! 🎭
A full conversion would result in the issuance of approximately 16,153,900 new shares, leading to a dilution of about 12%. Because who doesn’t love a little dilution in their life? 😅
H100 shares bounced on Bitcoin buy
In a spectacular display of market enthusiasm, shares in H100 leaped a staggering 37% following the firm’s May 22 announcement, and then rose another 5.33% the very next day to 1.29 SEK (14 US cents), as reported by the ever-reliable Bloomberg data. What a rollercoaster ride! 🎢
H100, the purveyor of health tools for those who refuse to be shackled by the “reactive health system,” as their CEO, Sander Andersen, so eloquently stated in a May 22 X post, is on a mission! 🚀
Andersen believes that “the values of individual sovereignty, so prevalent in the Bitcoin community, align splendidly with the customers and communities we are building the H100 platform for.” A noble cause indeed! 🕊️
According to H100, this bold move positions them as the first public company in Sweden to adopt a Bitcoin treasury policy, and one of the pioneers in Europe. Bravo! 👏
The number of companies embracing Bitcoin as a treasury asset is on the rise, with 112 public firms now holding the cryptocurrency, as per the ever-accurate BitcoinTreasuries.NET data. H100 is certainly in good company! 🥂
Ten of those corporate Bitcoin-holding companies are based in Europe, making H100 one of the first in the region to hop on this trendy bandwagon. What a time to be alive! 🎉
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2025-05-26 03:56