Adam Back invests $8.8 million in Capital B as firm targets 3,521 bitcoin
French bitcoin treasury firm Capital B raised €7.6 million ($8.8 million) from Adam Back in a private share sale, the company announced on Wednesday. The funds will help expand its bitcoin holdings from 3,145 BTC to a target of 3,521 BTC.
How the investment works
Capital B issued 13.18 million shares at €0.58 ($0.67) each, a 15.4% premium over the Sept. 1 closing price. Each share includes four warrants, exercisable at different prices over five years. If all 52.7 million warrants are exercised, the company could receive an additional €49.4 million ($57 million).
The deal is expected to close by Sept. 3, with net proceeds of about €7.3 million ($8.5 million) after fees.
Key numbers
- New investment: €7.6 million ($8.8 million) from Adam Back
- Current bitcoin holdings: 3,145 BTC
- Target bitcoin holdings: 3,521 BTC (376 BTC increase)
- Back’s stake: Rises to 17.77%, potentially 27.8% if all warrants are exercised
- Previous raise: €15.2 million ($18 million) in May 2026
What Capital B plans to do
The proceeds, along with ongoing operations, will fund the purchase of 376 additional bitcoin. Capital B ranked 26th among 198 public companies tracked by Bitcoin Treasuries as of Sept. 2.
The company is also exploring a digital credit instrument for the European market, modeled on existing products like Strategy’s STRC.
