Swedish health company H100 Group completes $2.2 million financing led by Adam Back to buy Bitcoin

Odaily Planet Daily News Blockstream CEO Adam Back led a $2.2 million round of financing for Swedish health technology company H100 Group AB, and the funds raised will be used to purchase Bitcoin. H100 said on May 25 that the funds will be injected in the form of convertible bonds with a 0% interest rate to implement its Bitcoin reserve strategy. Among them, Adam Back invested about $1.4 million, and the remaining $800,000 was provided by multiple investment institutions. According to the current market price, H100 can increase its holdings by about 20.18 bitcoins, plus the 4.39 purchased on May 22, and the total holdings are expected to reach about 24.57 BTC. H100 said that the convertible bonds will expire on June 15, 2028, and can be converted into company shares at any time at 1.3 Swedish kronor (about $0.11) per share. If the stock price rises by more than 33% for 60 consecutive days in the future, the company can force the conversion. Boosted by the Bitcoin purchase plan, H100's stock price has risen by more than 40% since May 22. The company said that the inclusion of Bitcoin in the balance sheet is out of a high recognition of the value of "individual autonomy", and it has also become the first listed company in Sweden to implement a Bitcoin treasury strategy. (Cointelegraph)