K33 sets 1,000 BTC purchase target with fresh share issuance

K33 has launched an issuance of new shares in the company to finance the purchase of up to 1,000 Bitcoins. The firm also wants to secure minimum gross proceeds of SEK 85 million ($8.85 million) through pre-commitments.

The Norwegian firm appointed Pareto Securities AS as the sole manager and bookrunner in the Directed Share Issue. The company also revealed that the subscription price per Offer Share in the share issue will be SEK 0.1036.

K33 said that the offer price equals the closing price of its share on Nasdaq First North Growth Market on June 17. 

The minimum subscription and allocation amount in the share issue will be roughly 100,000 per investor. The company also stated that it may offer and allocate amounts below the SEK equivalent of 100K euros in the share issue.

K33 advances its crypto initiatives

📢 PRESS RELEASE: K33 launches a share issue to finance the purchase of up to 1000 Bitcoin, with a minimum of SEK 85 million secured through pre-commitments pic.twitter.com/sG1LZjR6EI

— K33 (@K33HQ) June 18, 2025

Norwegian firm K33 announced its new share issue in the company, where the net proceeds of the share issue will be used to buy Bitcoin to strengthen its balance sheet. The company argued that the initiative will unlock real operational leverage for the firm as a broker in addition to the direct exposure to BTC. The investment firm also hopes to improve its margins and enable new product offerings.

K33 also anticipates that the share issue will improve its margins, enable new product offerings, and strengthen its ability to win large institutional partners. The digital asset brokerage firm also believes it will fuel scalable growth without putting the digital assets at risk.

The research company also disclosed that the directed share issue provides it with swift access to capital, enabling the firm to deliver on its BTC accumulation strategy and pursue favorable investment opportunities. 

“We expect Bitcoin to be the best-performing asset in the coming years and will build our balance sheet in Bitcoin moving forward. This will give K33 direct exposure to the Bitcoin price and help unlock powerful synergies with our brokerage operation. Our ambition is to build a balance sheet of at least 100o BTC and then scale from there.”

–Torbjorn Bull Jenssen, CEO of K33.

K33 initiated its BTC accumulation strategy on May 28, aimed at strengthening its financial position and unlocking new product and partnership opportunities. The company entered into investment agreements totaling SEK 60 million, comprising issuances of 300M shares and 600 warrants totaling SEK 15 million, and convertible loans totaling SEK 45 million.

The crypto brokerage firm noted that its use of proceeds will be open-ended, and it will be able to deploy any amount of gross proceeds generated during the application period in the share issue on top of the minimum size offer. K33 added that its board of directors reserves the right, at its sole discretion, to introduce a maximum offer size.

Application period for share issuance commences on Wednesday

According to the company, the application period for the share issue will commence on June 18 at 09:00 CEST and is expected to close on June 19 at 17:30 CEST. K33 revealed on Wednesday the acquisition of 5 Bitcoins for a total consideration of approximately SEK 5 million. K33 also warned that at its sole discretion, it may extend or shorten the application period at any time and for any reason, on short notice or without notice. 

The crypto research firm revealed that the allocation of offer shares will be based on criteria such as pre-commitments, existing ownership in the company, timeliness of order, relative order size, sector knowledge, perceived investor quality, and investment horizon. The company’s manager is also expected to send notification of conditional allocation and payment instructions on or about June 23.

During the pre-sounding phase of the share issue, the research company disclosed that its manager had received pre-commitments from certain existing shareholders. The funds included 100,000 euros from its CEO Torbjorn Jenssen, through Muunilinst AS, and new investors to subscribe for the minimum offer size in the share issue at the offer price.

K33 said applicants allocated offer shares in the directed share issue will vote in favor of item 9 in the notice of the Extraordinary General Meeting (EGM) on July 3. The firm added that such undertaking applies to all shares in the company held or controlled as of the record date for the EGM.

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