France’s blockchain group provides 9.7 million euros for its Bitcoin treasury strategy
Today, the blockchain group (ALTBG), listed on the Paris European Version Growth, is recognized as the first Bitcoin finance company in Europe, announced that it has raised approximately 9.7 million euros through a mix of equity and convertible bond issuances. This move is part of their continued efforts to develop a Bitcoin fiscal company strategy.
The funding comes from multiple sources and is conducted through its wholly-owned Luxembourg subsidiary, Blockchain Luxembourg SA. Most of the 6 million euros are raised through the issuance of convertible bonds to Tobam, which is priced at €6.24 per share. This price reflects a 30% premium to AltBG closing price on June 9, 2025.
Ludovic Chechnya-laurans also received a subscription to BTC for a conversion price of €0.7072 per share. This is part of the deal originally concluded in March 2025. If the share price is above that level by 30% for 20 consecutive trading days, up to 0.919 euros, he will have the option to convert into 3.4 million shares of AltBG stock.
Adam Back also converted all OCA Tranche 1 bonds into 14.9 million Altbg shares and subscribed to €2.1 million at €0.544 per share.
“The company recalls that Adam returned to his intention, whose intention was to convert all OCA Tranche 1 he held under the terms of the OCA Issuance Agreement signed on March 4, 2025, and its details were disclosed in a press release dated March 6, 2025, and the company now confirms that the company has confirmed that it has confirmed that it has been completed.
Tobam did the same, converting 1 million 1 bonds into 1.84 million shares and subscribed to 262,605 new shares at the price of 262,605 shares.
The press release added: “Given the recent high volatility of the company’s share price since the signing of the OCA issuance Agreement, the conversion price is 0.544 euros, reflecting an 89.52% discount compared with the closing price on June 12, 2025.”
“These operations could allow potential acquisitions of approximately 80 BTC, increasing the company’s total potential holdings to approximately 1,611 BTC, including potential earnings from the remaining business announced in the May 26, 2025 press release,” the release said.
