Norwegian digital asset firm K33 has announced plans to issue new shares aiming to raise approximately $8.8 million.
The capital raise is specifically intended to fund the acquisition of up to 1,000 Bitcoin (BTC), significantly expanding the company’s holdings as part of its strategy to capitalize on Bitcoin’s growth potential.
The share offering has already secured full subscription commitments from both existing shareholders and new investors, indicating strong market confidence in K33’s strategy.
CEO Torbjørn Bull Jenssen emphasized the company’s conviction in Bitcoin’s role as the future of global finance, stating this move strategically positions K33 to benefit from its anticipated growth.
Authorization for the share issuance and related financial instruments requires shareholder approval, which will be sought at an Extraordinary General Meeting (EGM) scheduled for July 3.
This planned acquisition continues K33’s aggressive Bitcoin accumulation strategy observed throughout 2024.