H100 boosts Bitcoin holdings to 3,500 BTC! What does this mean for market rankings?

Sweden-based H100 Group shareholders approved the issuance of new shares on Monday, paving the way for the acquisition of Norwegian Bitcoin investment companies Moonshot AS and Never Say Die AS. Once the deal is finalized, H100’s Bitcoin reserves are set to surge from 1,051 BTC to approximately 3,500 BTC, making the group a major player among Europe’s corporate Bitcoin holders.

Acquisition structure comes into focus

According to minutes from the general meeting, the most critical agenda item was authorizing the board of directors to issue payment shares to the sellers of both Norwegian companies, as outlined in a share purchase agreement dated April 23. H100 announced that all other motions on the agenda were also approved by shareholders.

There will be no cash payment in this transaction. Instead, the entire acquisition price will be settled through newly issued H100 shares. This approach enables the sellers to maintain their Bitcoin exposure while consolidating these assets under a larger, publicly traded entity.

Two amendments to the corporate charter

The meeting also saw approval of two amendments to the company’s articles of association. The first raises the capital ceiling to facilitate possible future share issuances. The second ties the issuance of payment shares to the completion of the acquisition, expanding the limits for total outstanding shares.

With these changes, H100’s minimum authorized shares are now set at 1.1 billion and the maximum at 4.4 billion. This legal framework supports the new capital structure that will be established following the acquisition.

H100 on track for a higher rank among European Bitcoin holders

The integration of roughly 2,450 BTC from Moonshot and Never Say Die will raise H100’s total Bitcoin holdings to around 3,501 BTC, up from its current 1,051 BTC. H100 Group stands out as a Sweden-based, publicly listed company with a strategic focus on holding Bitcoin on its balance sheet.

This inflow is projected to place H100 just behind Germany’s Bitcoin Group, which holds 3,605 BTC, in the European rankings. Globally, H100 is set to jump from 43rd to 26th position, ahead of companies such as Cango and France-based Capital B.

The company’s average Bitcoin acquisition cost stands at $114,615 per coin. With Bitcoin trading near $62,400, H100’s BTC reserve is currently valued around $65.6 million, although its total cost basis stands at $120.5 million.

Share performance remains under pressure

On Monday, H100 shares closed at 1.162 Swedish kronor on the NGM Nordic SME exchange, putting the company’s market capitalization at approximately 399 million kronor, or about $38 million. Shares have tumbled more than 91 percent over the past year, with losses of roughly 38 percent since the start of 2024.

Monday’s general meeting also saw the re-election of CEO Johannes Wiik. Board members Sander Andersen, Joakim Dahl, and Florence Aspinall retained their roles as well. Earlier this month, Wiik expressed his strong belief in the company’s long-term strategy and future opportunities.

The post H100 boosts Bitcoin holdings to 3,500 BTC! What does this mean for market rankings? appeared first on COINTURK NEWS.