European listed company The Blockchain Group completes over 22 million euros in financing, with participation from Tobam and others

ChainCatcher news, according to Bitcoin Magazine, European listed company The Blockchain Group (ALTBG) completed two rounds of financing totaling over 22 million euros within a week. On May 9, it raised 9.9 million euros through equity financing, with the issue price at a 61.7% premium over the average price on the 20th. Investors included Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, VP Bank, and others. On May 12, it issued 12.1 million euros in Bitcoin-denominated convertible bonds through its Luxembourg subsidiary, fully subscribed by Blockstream CEO Adam Back, with the issue price at a 30% premium over the first batch conversion price.

The funds will be used to strengthen Bitcoin holdings and develop subsidiary businesses in data intelligence, AI, and more. As a core member of "Bitcoin For Corporates," the company explores capital structure innovations centered around Bitcoin, including Bitcoin-denominated bonds and hard asset reserve strategies.