Blockstream CEO Adam Back has led the funding round of 21 million Swedish Krone ($ 2.2 million) at the Swedish Health Tech Company H100 Group AB, which will start buying bitcoins last week.
H100 Said On May 25, safe money will be used to purchase bitcoin (BTC) to purchase bitcoin (BTC) with bitcoin-kharid pivot declared on 22 May through 0% interest convertible loan.
Back, a long -time bitcoin cipherpank contributed to $ 1.4 million, while the remaining $ 800,000 investment firms came from Morton Klein, Alundo Investment AS, Race Venture Scandinavia AB and Kraford Capital Partners.
This increase will allow H100 to purchase around 20.18 bitcoins at current market prices, which will add 4.39 bitcoins that it was purchased on 22 May and its total stand was brought to about 24.57 bitcoins.
H100 said that convertible loans do not charge any interest and mature on 15 June 2028. The loan can be converted into shares at a conversion rate of 1.3 Swedish Krone (11 US cents) per share at any time.
If the share price of H100 maintains a quantity of more than 33% from the conversion price for the cumulative clan of 60 trading days maintains the average price, then H100 has the right to make the conversion of the loan compulsory in equity.
As a result of a complete conversion, approximately 16,153,900 new shares will be issued as per the weakening of about 12%.
H100 shares jumped on buying bitcoin
In H100 shares jumped 37% on the May 22 announcement and the next day one and 5.33% grew to 1.29 SEK (14 US cents), Bloomberg. data Show.
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H100 sells health equipment for individuals who do not want to rely on the “reactive health system”, the company’s CEO, Sander Anderson, Said In X Post on 22 May.
Anderson believes that “the price of highly present personal sovereignty in the bitcoin community align well, and will appeal to customers and communities for whom we are building an H100 platform.”
According to H100, the step makes Sweden’s first public company, which adopted Bitcoin Treasury Policy and one of the first in Europe.
The number of companies buying bitcoins as treasury assets is increasing, with 112 public firms now is cryptocurrency, According For bitcointreasuries.net data.
Ten of the corporate bitcoin holding companies are located in Europe, which is making H100 one to adopt the first trend in the region.
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