In a move that can only be described as both audacious and slightly bonkers, the company announced a directed share issue worth a minimum of SEK 85 million. Yes, you heard that right—85 million! And what, pray tell, will they do with this mountain of cash? Why, they plan to acquire Bitcoin, of course! Because who wouldn’t want to hold a digital currency that’s as volatile as a cat on a hot tin roof?
K33’s grand scheme is part of a broader plan to enhance operational leverage, improve margins, and attract institutional partnerships. They’ve even appointed Pareto Securities as the sole manager and bookrunner for this little escapade. Shares will be priced at SEK 0.1036, which is just about the same as the closing price on June 17. How convenient!
CEO Torbjørn Bull Jenssen, a name that sounds like it should be on a Viking ship, described the offering as a major milestone. “Bitcoin is the foundation of our financial future,” he declared, probably while standing on a soapbox. “This raise allows us to capitalize on its potential while scaling our business efficiently.” Because nothing says efficiency like chasing after a digital currency that can swing wildly from hero to zero in a matter of hours.
Proceeds from this offering will fund BTC purchases directly, which is a fancy way of saying they’re going to buy a lot of Bitcoin. This will boost their balance sheet strength and enable the firm to roll out new products and services. Jenssen emphasized that the strategy positions K33 to benefit from Bitcoin’s upside while ensuring risk remains offloaded from client capital. In other words, “We’ll take the profits, and you can keep the risk!”
The offering will be available to both Swedish and international investors, with a minimum subscription set at the SEK equivalent of EUR 100,000. But fear not! K33’s board retains the discretion to accept smaller allocations under regulatory exemptions. Because who doesn’t love a little regulatory gymnastics?
The subscription window opens on June 18 and closes June 19, with allocation decisions to follow shortly after. Payment and delivery are expected to finalize by early July, pending fulfillment of listed conditions. So, mark your calendars, folks! This is the financial equivalent of a flash sale!
Notably, the company has received pre-commitments from existing shareholders and its CEO, who has pledged EUR 100,000 via Muunilinst AS. Participants will also be required to support related resolutions at the upcoming extraordinary general meeting scheduled for July 3. Because nothing says “I love Bitcoin” like a mandatory meeting!
K33’s share issue marks a growing trend among digital asset firms integrating Bitcoin into corporate finance strategies. It’s like watching a bunch of cats trying to herd themselves into a single box—entertaining, chaotic, and slightly bewildering!
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2025-06-18 15:13