The general director of Blockstream, Adam Back, led 21 million Swedish labels ($ 2.2 million) in a Swedish company dealing with H100 Group AB health technology, which said last week that she would start buying Bitcoin.
H100 he said On May 25, that funds, secured for 0% loans for convertible, will be used to buy Bitcoins (BTC) in accordance with its trading buying bitcoins announced on May 22.
BACK, longtime Bitcoin Cypherpunk, brought around $ 1.4 million, while the remaining USD 800,000 came from Morten Klein, Aundo Invest AS, Race Venture Scandinavia AB and Crafoord Capital Partners.
The augment would allow the H100 to buy about 20.18 Bitcoins at current market prices, which would augment 4.39 bitcoins, which he bought on May 22 and would lead to a total supply to about 24.57 bitcoins.
The H100 said that replacement loans do not incur interest and will mature on June 15, 2028. The loan can be transformed into shares at any time with a conversion rate of 1.3 Swedish Kron (11 American cents) per share.
If the price of the H100 shares maintains the average weighted price exceeding 33% above the conversion price for a total of 60 trade days, H100 has the right to authorize the conversion of a loan to equity.
Full conversion would result in the release of around 16,153,900 fresh actions, which corresponds to dilution of about 12%.
H100 shares reflected on Bitcoin Buy
Actions in H100 jumped by 37% in the company’s announcement on May 22 and another 5.33% the next day to 1.29 sec (14 American cents), Bloomberg increased data can be seen.
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H100 sells health tools for people who do not want to rely on the “reactive healthcare system”, company CEO, Sander Andersen, he said In the post of May 22.
Andersen believes that “the value of individual sovereignty present in the Bitcoin community are well connected and will appeal to customers and communities for whom we are building the H100 platform.”
According to the H100, this movement means that the first public company in Sweden has adopted Bitcoin tax policy and one of the first in Europe.
The number of companies buying bitcoin as tax assets is growing, and 112 public companies have now had cryptocurrency, According to for Bitcointreasuries.net data.
Ten Bitcoin holding companies are based in Europe, which makes H100 one of the first in the region that has adopted this trend.
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