BTC AB enters into 21 BTC Convertible Loan Agreement with strike price of SEK 400, with up to 105 BTC under same structure
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B Treasury Capital AB (“BTC AB” or the “Company”) has on 14 August 2025 entered into a 21 Bitcoin (≈ SEK 24 million) Bitcoin per share (BPS)-protected, interest free, convertible loan agreement. The facility is designed to allow for up to five tranches of 21 Bitcoin each, with fixed conversion prices per tranche averaging 75 percent above yesterday’s closing price, to be implemented over time subject to mutual agreement.
The Company's total Bitcoin holdings under custody immediately increases to 187 Bitcoin, and would amount to 271 Bitcoin if all five tranches are implemented.
The instrument has been structured in collaboration with Nova Galactica Capital ltd, the counterparty to the convertible loan and an investor with deep involvement in the Bitcoin ecosystem and strong alignment with BTC AB’s long-term objectives.
Conversion prices of SEK 450, SEK 500, SEK 550, and SEK 600 are targeted for potential future convertible loans, reflecting a progressively higher valuation trajectory. These levels remain non-binding and may be adjusted.
· Loan amount: 21 BTC (≈ SEK 24 million)
· Interest: 0% (interest-free)
· Conversion price: SEK 400 per B-share
· Conversion window: 10 September 2025 until maturity (6 months from issuance)
· Issuer call option: BTC AB can force conversion if VWAP ≥ SEK 500 for 20 consecutive trading days
· Repayment currency: BTC (same as borrowed)
Impact On Shares In Issue: The loan is denominated in Bitcoin and the total number of shares upon conversion will depend on the price of Bitcoin in SEK at the time of the conversion. As an example, based on today’s Bitcoin price of SEK 1,134,496, if the convertible loan were converted into equity a total of 59,546 shares would be issued.
“This convertible loan facility provides another effective tool to grow our treasury. As we now start rolling out our BPS-accretive strategies, the conversion terms offer transparency and predictability for all shareholders.”, says Christoffer De Geer, CEO BTC AB.
The Lender is not considered a related party to the Company under applicable regulations, and the Loan is unsecured, with no pledges or collateral provided.
For further information, please contact:
Christoffer De Geer, CEO
Email: hello@btc.se
About B Treasury Capital AB
BTC AB is a pure Bitcoin investment company, with a mission to hold and accumulate Bitcoin in an accretive way for its shareholders. BTC AB aims to be the most transparent and investor-friendly publicly listed company, with institutional grade custody, security and operational execution.
This information constitutes inside information that B Treasury Capital AB is required to disclose pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication by the contact person listed below on August 14, 2025, at 17:45 CET.
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