Norwegian entrepreneur Sander Andersen, CEO of both Swiss Finpeers and Swedish H100 Group, continues to raise money for Bitcoin purchases. H100 Group has secured an agreement enabling financing of up to 277 million Swedish kronor.
On June 4, Sander Andersen participated in a panel debate on Bitcoin Treasury Company strategies during the live event “State of Bitcoin in the Nordics”. Already during the live broadcast, Andersen told that H100 Group had signed an investment agreement with British cryptographer Adam Back. Later in the day, the details of the deal became known.
Adam Back is one of the most influential figures in the Bitcoin and blockchain environment. Back is known as the inventor of Hashcash, a proof-of-work system fundamental to Bitcoin mining. He is also the co-founder and CEO of Blockstream, a leading company in Bitcoin infrastructure and financial innovation.
The agreement gives H100 Group access to an initial tranche of 21 million Swedish kronor from Adam Back, with the possibility of further investments in four future tranches. In total, H100 Group can recoup up to SEK 277 million through convertible loans. The funds will be used to buy Bitcoin in line with the company's long-term strategy, and strengthen its balance sheet to build digital infrastructure for healthcare players.
The convertible loans are interest-free and have a maturity of five years. The loans can be converted at any time into shares in the company at predetermined rates: NOK 1.75 per share in the first tranche, rising to NOK 5.00 in the fifth tranche. If the share price exceeds 33 percent above the conversion price in 20 trading days, the company may require conversion. Upon full conversion of the first tranche, 12 million new shares will be issued, giving a dilution of approximately 9.3 percent.
The Board of Directors of H100 Group has considered various financing options and concluded that the convertible loan structure provides quick access to capital and strengthens the company's strategic position, particularly through the involvement of value-oriented investors such as Adam Back.
H100 Group thus continues to mark itself as one of the first European healthcare technology companies with an active Bitcoin Treasury strategy
Norwegian entrepreneur Sander Andersen, CEO of both Swiss Finpeers and Swedish H100 Group, continues to raise money for Bitcoin purchases. H100 Group has secured an agreement enabling financing of up to 277 million Swedish kronor.
On June 4, Sander Andersen participated in a panel debate on Bitcoin Treasury Company strategies during the live event “State of Bitcoin in the Nordics”. Already during the live broadcast, Andersen told that H100 Group had signed an investment agreement with British cryptographer Adam Back. Later in the day, the details of the deal became known.
Adam Back is one of the most influential figures in the Bitcoin and blockchain environment. Back is known as the inventor of Hashcash, a proof-of-work system fundamental to Bitcoin mining. He is also the co-founder and CEO of Blockstream, a leading company in Bitcoin infrastructure and financial innovation.
The agreement gives H100 Group access to an initial tranche of 21 million Swedish kronor from Adam Back, with the possibility of further investments in four future tranches. In total, H100 Group can recoup up to SEK 277 million through convertible loans. The funds will be used to buy Bitcoin in line with the company's long-term strategy, and strengthen its balance sheet to build digital infrastructure for healthcare players.
The convertible loans are interest-free and have a maturity of five years. The loans can be converted at any time into shares in the company at predetermined rates: NOK 1.75 per share in the first tranche, rising to NOK 5.00 in the fifth tranche. If the share price exceeds 33 percent above the conversion price in 20 trading days, the company may require conversion. Upon full conversion of the first tranche, 12 million new shares will be issued, giving a dilution of approximately 9.3 percent.
The Board of Directors of H100 Group has considered various financing options and concluded that the convertible loan structure provides quick access to capital and strengthens the company's strategic position, particularly through the involvement of value-oriented investors such as Adam Back.
H100 Group thus continues to mark itself as one of the first European healthcare technology companies with an active Bitcoin Treasury strategy