Swedish company H100 has announced via press release that it has entered into an investment agreement with Blockstream CEO Adam Back. In a series of moves that seek to create a Bitcoin treasury, H100 has been consistently raising money through a structure of tranches.
Adam Back will be underwriting tranche 6 with 150 million Swedish kronas. Under the investment agreement, Adam Back can request tranches 7 and 8, subject to the condition that they are triggered within 90 days of signing the previous tranche. The conversion price for Tranche 6 is set at 6.38 Swedish kronas for each share. Conversion prices from Tranche 7 and 8 are set at 8.48 and 11.27 Swedish kronas.
All proceeds secured from the convertible loans are expected to be used to fund the company’s bitcoin acquisition.
This update comes as the company rolls out multiple financing agreements, all intended to secure more funds for its bitcoin treasury strategy.
On the 13th of June, H100 partnered with STOKR to explore the possibility of a tokenized convertible loan.
Then on the 12th of June, H100 made a purchase of 10.46 BTC, bringing its total holdings to 24.41 BTC.
As reported earlier by Coinheadlines, H100 is a health technology company based in Sweden. Its main business model is focused on providing support to providers of healthcare through AI and other digital tools. H100 is listed on the Nordic Growth Market, which is a leading Nordic stock exchange that tracks fast-growing small to medium-sized companies.
