H100 Group (H100), a Stockholm-based publicly listed bitcoin treasury firm targeted on offering institutional publicity to bitcoin, mentioned it signed a letter of intent to acquire Norwegian friends Moonshot AS and Never Say Die AS to extend its holdings of the largest cryptocurrency.
If accomplished, the deal would roughly triple H100’s bitcoin stash to round 3,500 BTC, positioning it amongst Europe’s largest listed bitcoin treasury corporations. Beyond that, H100 mentioned it goals to strengthen its institutional profile, enhance liquidity and increase its relevance in capital markets.
The announcement follows the corporate’s January announcement that it plans to mix with Future Holdings AG, a Zurich-based bitcoin treasury firm. Both are backed by Adam Back, a British cryptographer and co-founder of Blockstream.
The transaction is structured as a bitcoin-for-bitcoin trade, that means possession in the mixed entity will likely be decided solely by the quantity of bitcoin contributed. This method preserves bitcoin publicity per share for current buyers, avoiding dilution whereas considerably scaling the corporate’s steadiness sheet.
The acquisition will likely be executed as an all-share transaction with no money consideration.
The goal corporations collectively maintain about 2,450 BTC.
Definitive agreements are anticipated by April 22, with completion anticipated shortly after the corporate’s annual common assembly in May, topic to ultimate approvals.
The announcement despatched H100 shares up 2% on the day.
