Capital B, the Paris-listed bitcoin treasury firm as soon as generally known as The Blockchain Group, will mix each 10 current shares into one new share starting September 8, in accordance with a regulatory submitting the corporate printed Monday.
The consolidation reduces the variety of excellent shares from 300,650,632 to 30,065,063. Every new share will carry a par worth of €0.80, up from €0.08 for the present inventory. The corporate framed the transaction as a “purely technical trade” that leaves the combination worth of every shareholder’s holdings unchanged, save for the therapy of fractional entitlements.
Capital B mentioned the transfer goals to “assist the corporate’s institutional growth and to open the corporate’s shares to a broader universe of buyers.”
Many institutional funds function beneath inner guidelines that bar them from holding shares beneath a set worth, and a few exchanges impose minimum-price thresholds for continued itemizing. A better quoted worth per share removes one barrier to that participation.
Capital B shares commerce close to €0.48 on Euronext Development Paris and have declined about 40% because the begin of the yr, per Google Finance knowledge. Ought to the corporate’s market worth maintain, every consolidated share would open close to €4.80.
Key dates for Capital B shareholders
The reverse break up interval runs from August 6 via September 7. Shareholders who maintain a lot of shares divisible by 10 will see their positions transformed with no motion required.
These holding leftover shares should purchase or promote inventory earlier than the deadline to achieve a spherical a number of of 10. For buyers who don’t, monetary intermediaries will promote the shares tied to fractional entitlements and distribute the money proceeds, with funds set to start September 14.
September 7 marks the ultimate buying and selling day for the present shares. The consolidated shares begin buying and selling the next day beneath a brand new ISIN, the code exchanges use to establish a safety. The corporate has set September 9 because the document date and September 10 for settlement and supply.
Capital B can even pause conversions of sure convertible bonds and workout routines of share warrants from August 17 via September 10. After the break up, the corporate will regulate conversion costs and warrant ratios to mirror the diminished share rely, multiplying bond conversion costs by 10 whereas dividing warrant ratios and unvested free shares by 10.
Treasury technique stays central
The share restructuring doesn’t add bitcoin to the stability sheet or increase new capital by itself. It modifications the quantity and nominal worth of shares via a technical consolidation, a step the corporate tied to its objective of reaching a wider investor base.
Capital B’s bitcoin holdings
Capital B holds 3,139 BTC, a determine that ranks it because the second-largest listed company bitcoin holder in Europe, in accordance with BitcoinTreasuries.web. Germany’s Bitcoin Group SE sits forward of it with 3,605 BTC, the information exhibits. Capital B, which describes itself as Europe’s first bitcoin treasury firm, constructed a lot of that place via fundraising rounds through the first half of 2026.
In Could, it acquired 192 BTC for €13 million after finishing three capital raises.
The corporate has moved to widen its entry to capital. In June, shareholders authorised authority for as a lot as €5 billion in capital will increase and €100 billion in credit score devices, resolutions that drew greater than 95% assist from votes forged. These approvals give the board financing capability for future purchases.
Capital B measures progress via bitcoin held per totally diluted share fairly than complete reserves alone, a framework widespread amongst bitcoin treasury firms. The agency has additionally mentioned it’s growing a bitcoin-backed credit score product for the European market, although it has not set a launch date.