Capital B Raises €2.8M to Boost Its Bitcoin Treasury Strategy

Capital B secures €2.8M and converts OCA B-01 bonds into shares, advancing its Bitcoin Treasury Company strategy on Euronext Growth Paris.

Capital B, listed on Euronext Growth Paris under ticker ALCPB, has announced a €2.8 million capital raise. The move is part of its growing Bitcoin Treasury Company strategy. 

Alongside the fundraise, the company confirmed the conversion of 19,917,972 OCA B-01 convertible bonds held by two key investors. Moreover, Blockstream Capital Holdings and UTXO Management triggered the conversions following amendments to the bond terms.

Blockstream and UTXO Management Convert OCA B-01 Bonds Into Shares

Blockstream Capital Holdings converted 17,897,600 OCA B-01 bonds into 32,900,000 ordinary shares of Capital B. 

Separately, UTXO Management converted its 2,020,372 OCA B-01 bonds into 3,713,919 shares. Both conversions followed an amendment that now allows holders to convert at any time without a prior share price condition.

Capital B noted that Blockstream Capital Holdings originally acquired its stake through a transfer from Fulgur Ventures. 

That transfer included 10,000,000 ordinary shares, 32,092,952 OCA B-01 bonds, and 55,279,428 OCA B-02 bonds.

Blockstream Capital Holdings describes itself as an investment group focused on Bitcoin and global finance. It has activities spanning venture capital, private equity, credit, and insurance.

Capital B Issues New Shares at €0.544 in Fresh €2.8M Raise

Following the conversions, both investors also subscribed to new shares. 

Blockstream Capital Holdings subscribed to 4,700,000 shares, while UTXO Management took 530,559 shares. Both subscribed at €0.544 per share, bringing the total raise to €2.8 million.

Capital B stated that this subscription forms part of legal adjustment measures for OCA B-01 holders. 

These measures followed the free allocation of BSA 2025-01 warrants to all shareholders in April 2025. The company says the updated conversion terms better align the bonds with current market conditions.

Read also: 

OCA Bond Amendment Strengthens Capital B Bitcoin Strategy

The amendment removes the share price threshold previously required for bondholder-initiated conversions. 

The issuer can still trigger conversions in the final two years, but only if the volume-weighted average share price reaches 130% of the conversion price over 20 trading days. 

For OCA B-01, that threshold sits at €0.7072 per share. For OCA B-02, it stands at €0.9194.

Capital B also amended identical terms with UTXO Management for its separate OCA B-01 tranche. The company noted this follows similar amendments announced for OCA A-03, A-04, and A-05 tranches held by TOBAM on March 17, 2026. 

Capital B continues to position itself as Europe’s first Bitcoin Treasury Company, with subsidiaries active in Data Intelligence, AI, and decentralized technology consulting

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