Blockchain Group’s $340 Million Quest: Will They Buy the Moon Next?

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  • Blockchain Group is on a treasure hunt for $340 million to fatten its Bitcoin piggy bank.
  • TOBAM is diving headfirst into the share pool, skipping the usual financial middlemen.
  • This new offering might just put Blockchain Group on the crypto finance map—if they can find the map.

In a move that can only be described as “bold” (or perhaps “slightly unhinged”), the Paris-based Blockchain Group has decided to raise a whopping $340 million. Yes, you heard that right! They plan to add to their Bitcoin reserves, because who doesn’t want more digital coins in their virtual pocket? This grand plan involves offering “ATM-type” shares, which are not to be confused with the kind that dispense cash—unless you’re really lucky. The aim? To lure in investors and elevate their status in the ever-chaotic marketplace of cryptocurrencies. 🤑

Blockchain Group Teams Up with TOBAM for a €300M Share Sale Adventure

First on the agenda, Blockchain Group is joining forces with asset manager TOBAM, because why not? TOBAM will be snapping up the ordinary shares that the company is currently issuing. They’ll be authorized to make their moves daily or weekly, which sounds suspiciously like a game of financial chess played after hours.

Now, how do they decide on the price of each share? Well, it’s a bit like a game show where the contestant picks the highest number between the closing price and the volume-weighted average price (VWAP). And just to keep things spicy, the company’s purchases can’t exceed 21% of the previous day’s trading volume. Because, you know, rules are fun!

Every week, TOBAM’s purchase requests will be collected by Blockchain Group and treated as a single capital boost—like a financial potluck. The final price for the shares will be determined by averaging the requests made during the week. If the prices dip too low, they’ll just whip out the minimum floor price set by their board, like a safety net for tightrope walkers.

Now, ATMs usually do things a bit differently. They typically rely on a financial intermediary to sell the shares, and they don’t usually keep them afterward. But in this case, TOBAM is not playing the middleman role. Instead, they might keep or sell the shares as part of their grand strategy. And guess what? Blockchain Group isn’t paying them a dime, nor are they helping with the placement or underwriting of the company’s shares. Talk about a free lunch! 🍽️

Moreover, this program doesn’t need a thumbs-up from France’s financial regulator, AMF. This means they can implement their tech wizardry faster than you can say “blockchain.” The maximum capital they can raise under this program is €300 million, but the board can always decide to up the ante when the mood strikes.

New Share Offering: A Step Towards Blockchain Group’s Crypto Kingdom

It’s worth noting that Blockchain Group is part of Euronext Growth Paris, and they’re known as Europe’s first Bitcoin Treasury company. Meanwhile, Alibaba is busy with its own ventures in artificial intelligence, data intelligence, and blockchain technology. Because why not throw a few more buzzwords into the mix?

In summary, this new share offering allows Blockchain Group to hoard even more Bitcoins, while TOBAM can buy shares outright without being shackled by lock-up restrictions. If the $340 million boost goes off without a hitch, it could solidify Blockchain Group’s role in the digital finance circus. With the ever-pressing need for change and innovation, this plan shows how companies are juggling the introduction of crypto and blockchain investment strategies—hopefully without dropping any balls! 🤹‍♂️

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2025-06-09 22:20