Swedish health tech firm H100 Group AB has raised over $54 million (approximately SEK 516 million) through a combination of share issuance and convertible debentures to accelerate its Bitcoin accumulation efforts.
The funding was secured in two parts: a directed share issue (Tranche 6), which saw the company issue 27.17 million shares at SEK 6.38 each, and a directed convertible debenture issue (Tranche 7) worth SEK 342.3 million, with a conversion price of SEK 8.48. The share issue resulted in a dilution of about 10.1% for existing shareholders, while full conversion of Tranche 7 debentures could lead to an additional dilution of roughly 14.3%.
Investors participating in these rounds have also been granted rights to take part in a future Tranche 8, which will feature convertible debentures priced 33% higher than those in Tranche 7.
Proceeds from the funding will be used to bolster H100 Group’s Bitcoin Treasury Strategy, which aims to preserve capital and strengthen the company’s balance sheet through strategic BTC investments.
This latest capital injection follows a series of previous crypto-focused fundraising efforts. In June, H100 secured a SEK 150 million ($15.8 million) convertible loan guarantee from Blockstream CEO Adam Back. That deal followed a May round that raised SEK 21 million ($2.2 million) via 0% interest convertible loans, also backed by Back, along with Morten Klein and Crafoord Capital Partners. Altogether, H100 has now raised SEK 921 million (~$96 million) toward its Bitcoin strategy.
The company’s pivot toward crypto was sparked by its initial Bitcoin purchase in May—4.39 BTC for around $490,000—which led to a 40% surge in its share price. According to BitcoinTreasuries, H100 now holds 247.5 BTC on its balance sheet.
