Today, H100 Group AB introduced it has entered a SEK 21 million convertible mortgage from an funding settlement with Adam Back, with the choice to develop his funding to SEK 277 million by way of a five-tranche convertible mortgage deal. The proceeds can be used to purchase Bitcoin in alignment with H100 Group’s long-term Bitcoin treasury technique.
Beneath the settlement, Back could make investments as much as SEK 128 million throughout 4 extra tranches, with assured participation of at the least 50%. Every tranche is twice his dedicated quantity, demonstrating his assist for H100’s long-term progress.
The press launch stated, “Adam Back may request the Second Tranche within 90 days from signing of the Initial Tranche, the Third Tranche within 90 days from signing of the Second Tranche, the Fourth Tranche within 90 days from signing of the Third Tranche and the Fifth Tranche within ninety 90 days from signing of the Fourth Tranche. In the event Adam Back does not request a Future Tranche within the deadline, the right to request subsequent Future Tranches lapses.”
The convertible loans haven’t any curiosity and have a 5 yr maturity. At any time, Back could convert the loans into shares of the Firm. Conversion costs are fastened per tranche: SEK 1.75 per share for the preliminary tranche, rising to SEK 5.00 by the fifth tranche. H100 retains the appropriate to power conversion if the inventory worth exceeds the conversion fee by 33% over a 20 day interval. Full conversion of the preliminary tranche would end in 12 million new shares and a 9.3% dilution.
“Upon request of a tranche Adam Back is obliged to invest in the relevant Tranche with SEK 15,750,000 in the second tranche, SEK 23,625,000 in the third tranche, SEK 35,437,500 in the fourth tranche, and SEK 53,156,250 in the fifth tranche,” said the press launch. “The contemplated size for each tranche is twice the entitled amount of Adam Back.”
“We have been around since 2014 and we work with our investors to put Bitcoin in a balance sheet back then and since then,” stated Adam Back on the 2025 Bitcoin Convention. “I think the way to look at the treasury companies is that Bitcoin is effectively the harder rate. It’s very hard to outperform Bitcoin most people that invest in things since Bitcoin around thought I should put that in Bitcoin and not in the other thing.”
