Bitcoin Frenzy: A Swedish Health Tech’s Descent into Madness

by

Ah, the eternal conundrum: what to do with all that cash? For H100 Group, a Swedish health tech firm, the answer was clear: invest in the most volatile, the most unpredictable, the most utterly bewildering asset of them all – Bitcoin! 🤯

And so, they set out to raise a small fortune, a trifling SEK 516 million (~$54M), via share and convertible debenture issues. Because what’s a health tech firm without a Bitcoin treasury strategy, am I right? 💸

The details are as follows: a directed share issue (Tranche 6, because who needs a simple “round 1” when you can have a “Tranche 6”?) of 27.17 million shares at SEK 6.38, and a directed convertible debenture issue (Tranche 7, because why not?) of SEK 342.3 million, with a conversion price of SEK 8.48. Because who needs simplicity when you can have complexity? 🤔

But wait, there’s more! The directed share issue diluted existing shareholders by a mere 10.1%, and if all convertible debentures from Tranche 7 are converted, it could cause an additional dilution of around 14.3%. Because who needs shareholder value when you can have Bitcoin? 🚀

And the cherry on top? Investors from these tranches also have rights to participate in a future Tranche 8 (because Tranche 7 just wasn’t enough), which will be another convertible debenture issuance with a conversion price set 33% higher than Tranche 7. Because why not? 🤷‍♂️

But what’s the point of all this, you ask? Ah, the point is to support H100 Group’s Bitcoin Treasury Strategy, aimed at preserving capital and strengthening the balance sheet by investing in Bitcoin (BTC). Because what’s a balance sheet without a little Bitcoin, am I right? 💸

This latest funding follows a previous agreement announced in June, where H100 secured a SEK 150 million (approx. $15.82 million) convertible loan guarantee from Blockstream CEO Adam Back to accelerate its BTC accumulation. Because who needs a simple loan when you can have a convertible loan guarantee? 🤔

And let’s not forget the earlier raise in May, where H100 brought in SEK 21 million ($2.2 million) through 0% interest convertible loans – also led by Back, alongside other investors such as Morten Klein and Crafoord Capital Partners. Because who needs interest when you can have 0% interest? 🤷‍♂️

So, to recap: H100 Group has raised a total of SEK 921 million (approximately $96 million) to date, all in the name of Bitcoin. Because what’s a health tech firm without a little Bitcoin madness? 🤪

And the result of all this? H100 currently holds 247.5 BTC on its balance sheet, according to BitcoinTreasuries. Because who needs actual health tech when you can have Bitcoin? 🚀

Read More

2025-07-09 12:32