K33 AB Raises 85 Million SEK to Acquire 1,000 Bitcoin

K33 AB (publ), a prominent digital asset brokerage and research firm, has announced a directed share issue to raise a minimum of 85 million SEK. The funds generated from this issue will be allocated to acquire up to 1,000 Bitcoin, which the company intends to hold on its balance sheet. This strategic initiative is part of K33's broader plan to enhance its financial stability and explore new product and partnership opportunities.

The directed share issue, overseen by Pareto Securities AS, will offer new shares at a price of SEK 0.1036 per share. The company has already secured pre-commitments from existing shareholders, including CEO Torbjørn Bull Jenssen, and new investors, ensuring the minimum offer size of 85 million SEK. The application period for the share issue commenced on June 18, 2025, and is scheduled to conclude on June 19, 2025. However, K33 reserves the right to adjust this timeline as needed.

K33's choice to pursue a directed share issue, rather than a rights issue, is motivated by several considerations. A rights issue would require more time to implement and could expose the company to market volatility. In contrast, the directed share issue can be executed more swiftly and at a lower cost, enabling K33 to seize favorable investment opportunities while maintaining a flexible capital structure. Additionally, the directed share issue aims to diversify and strengthen the company's shareholder base by attracting strategically important investors.

The acquisition of Bitcoin is anticipated to provide K33 with real operational leverage, enhancing its margins and enabling new product offerings. This, in turn, will bolster the company's ability to secure larger institutional partners, driving scalable growth without risking its Bitcoin holdings. K33's CEO, Torbjørn Bull Jenssen, highlighted the significance of this raise, stating that it marks a major milestone towards the initial goal of acquiring 1,000 Bitcoin. He emphasized the belief that Bitcoin represents the future of global finance and that a strong balance sheet built on Bitcoin will significantly improve K33's brokerage operations while maintaining full exposure to Bitcoin's upside potential.

Previously, on May 28, K33 signed an investment agreement with its shareholders, including Klein Group, Middelborg Invest AS, Tigergutt Invest AS, and Modiola AS. This agreement aimed to raise a total of 60 million SEK to support the company's Bitcoin treasury strategy. The directed share issue is subject to certain conditions, including the approval of item 9 in the notice of the Extraordinary General Meeting on July 3, 2025, and the registration of the authorization with relevant Swedish authorities. The final size of the share issue and the allocation of shares will be determined by the company's Board of Directors in consultation with the manager after the completion of the application period. Allocation will be based on various criteria, including pre-commitments, existing ownership, and investor quality.

In summary, K33's directed share issue represents a strategic move to strengthen its financial position and capitalize on the potential of Bitcoin. By acquiring up to 1,000 Bitcoin, the company aims to improve its operational leverage, attract larger institutional partners, and drive scalable growth. The directed share issue, with its swift execution and lower cost, is a prudent choice for K33 as it navigates the dynamic digital asset market.