H100 Group and Adam Back plan to raise 750 million Swedish kronor for Bitcoin purchases

Odaily News According to an official announcement, Swedish listed company H100 Group AB announced that it has signed a new round of investment agreement with Bitcoin pioneer Adam Back, and will raise up to 750 million Swedish kronor (approximately US$70.4 million) through convertible loans for its Bitcoin asset allocation strategy.
According to the agreement, Adam Back will purchase the sixth round of financing for SEK 150 million, and the subsequent two rounds (Seventh and Eighth) can each reach SEK 75 million, with priority subscription and obligation subscription rights. The current conversion price of the sixth round is set at SEK 6.38 per share, a 33% premium over the closing price on June 13. The conversion prices of subsequent rounds are SEK 8.48 and 11.27 per share respectively.
The H100 board of directors stated that the conversion pricing reflects market conditions and that this financing structure was chosen to quickly obtain funds and introduce strategic investors with consistent values to support the company's long-term Bitcoin reserve strategy and avoid the complex and high-cost traditional rights issue financing process.