[Adam Back invests another $8.8 million in Capital B as bitcoin treasury firm targets 3,521 BTC](https://www.theblock.co/news/business/2026-09-02-adam-back-invests-another-8-8-million-in-capital-b-as-bitcoin-treasury-firm-targets-3521-btc-413339?utm_source=telegram1&utm_medium=social) --- Link Prev
VC & Fundraising ·
Capital B, a French bitcoin treasury firm, announced that Adam Back invested €7.6 million ($8.8 million) through a private placement of shares priced at a 15.4% premium to the company's Sept. 1 closing price. The transaction comprised 13.18 million shares at €0.58 each, each bundled with four warrants exercisable at varying strike prices over five years. Back's ownership stake will rise to 17.77% post-issuance, or up to 27.8% if all warrants are exercised.
The company expects net proceeds of roughly €7.3 million after costs and said the capital, combined with ongoing operations, could support acquisition of 376 additional bitcoin, lifting its target holdings to 3,521 BTC from 3,145 BTC. If all 52.7 million warrants attached to this placement are exercised, Capital B would secure an additional €49.4 million and issue corresponding shares. The firm ranked 26th among 198 publicly tracked companies holding bitcoin as of Sept. 2.
Closure is anticipated Sept. 3 at the earliest, though Capital B noted potential delays for technical reasons. This fundraise follows a €15.2 million round announced in May that also included Back's participation and asset manager TOBAM.