Trump says envoy Witkoff had productive meeting with Putin
LONDON - London BTC Company Limited announced Wednesday a proposed capital raising to raise between £1 million and £5 million through the issue of new ordinary shares at 13 pence per share, representing a 10.34% discount to the closing bid price on July 9.
The company plans to conduct the fundraising through a placing of a minimum of 7,692,308 new ordinary shares, with Clear Capital Markets Limited acting as bookrunner. The final number of placing shares will be determined at the close of the accelerated bookbuilding process.
According to the press release statement, proceeds from the capital raising will be used to support mining operations through equipment purchases, acquire additional bitcoin, provide working capital, and assist with fees related to a proposed Nasdaq listing.
The company disclosed that it currently holds 65.03 Bitcoin as of Wednesday.
Settlement of the placing shares and admission to trading on the Main Market of the London Stock Exchange (LON:LSEG) are expected to take place around July 16, subject to conditions. The capital raising is not being underwritten.
The placing is conditional upon admission becoming effective, with a long stop date of August 1. The company stated that the placing shares, when issued, will be fully paid and rank equally with existing ordinary shares, including rights to dividends and distributions.
London BTC Company Limited noted that the capital raising is being conducted through an accelerated bookbuilding process that commenced immediately following the announcement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.