Norwegian crypto firm K33 raising more funds to buy up to 1,000 BTC

Norwegian crypto broker K33 is raising at least 85 million Swedish krona ($8.9 million) through a share issue for its plan to purchase up to 1,000 Bitcoin for its treasury.

Norwegian crypto firm K33 said Wednesday it plans to raise a minimum of 85 million Swedish krona ($8.9 million) through a share issue for its plan to purchase up to 1,000 Bitcoin for its company reserves.

According to its announcement, K33 has appointed Pareto Securities as its manager and bookrunner for the share issue. The subscription price per share is $0.011. K33 expects to issue at least 820 million shares.

“The net proceeds from the Directed Share Issue will be used to buy Bitcoin […] to hold on the balance sheet,” the company said. The move follows K33’s earlier announcement that it secured financing to acquire up to 57 Bitcoin (BTC) in late May.

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