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The Blockchain Group (ALTBG), Europe's first Bitcoin Treasury Company listed on Euronext Growth Paris, has successfully secured approximately €9.7 million through a combination of equity and convertible bond issuances. This significant funding aims to bolster its innovative Bitcoin treasury strategy, further solidifying its position in the digital asset landscape.
Funding Milestones Achieved
The Blockchain Group's latest funding round, executed through its wholly-owned Luxembourg subsidiary, The Blockchain Group Luxembourg SA, involved several key transactions:
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TOBAM Convertible Bond Issuance: Approximately €6 million was raised through a convertible bond issuance to TOBAM. These bonds were priced at €6.24 per share, representing a 30 percent premium over ALTBG's closing price on June 9, 2025.
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Ludovic Chechin-Laurans' Subscription: Ludovic Chechin-Laurans contributed around €2.4 million, subscribing in Bitcoin (BTC) at a conversion price of approximately €0.7072 per share. This agreement, initially established in March 2025, includes an option for conversion into up to 3.4 million new ALTBG shares if the stock price increases by 30 percent to around €0.919 over 20 consecutive trading days.
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Adam Back's Conversions and Subscriptions: Adam Back finalized the conversion of all his OCA Tranche 1 bonds into 14.9 million ALTBG shares. Additionally, he subscribed to an extra 2.1 million shares for €1.16 million at €0.544 per share. This conversion aligns with the OCA Issuance Agreement from March 4, 2025.
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TOBAM's Conversions and Subscriptions: TOBAM also converted 1 million Tranche 1 bonds into 1.84 million shares and subscribed to 262,605 new shares for €0.14 million.
Strategic Implications And Bitcoin Holdings
This substantial capital injection is a pivotal step in The Blockchain Group's ongoing commitment to its Bitcoin treasury strategy. The company anticipates that these operations could facilitate the acquisition of approximately 80 additional BTC, potentially increasing its total Bitcoin holdings to around 1,611 BTC. This figure includes proceeds from the potential completion of remaining operations announced on May 26, 2025.
Key Takeaways
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The Blockchain Group secured €9.7 million to advance its Bitcoin treasury strategy.
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Funding came from a mix of equity and convertible bond issuances involving key investors like TOBAM, Ludovic Chechin-Laurans, and Adam Back.
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The capital raise is expected to significantly boost the company's Bitcoin holdings, potentially reaching 1,611 BTC.
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The transactions reflect a strategic move to leverage both traditional and crypto-native investment mechanisms.
Sources
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France’s The Blockchain Group Secures €9.7 Million More For Its Bitcoin Treasury Strategy, Bitcoin Magazine.
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