Méliuz Plans $78 Million Share Offering to Buy Bitcoin

Brazilian fintech firm Méliuz, which serves over 30 million users, has announced plans to raise up to R$450 million ($78 million) through a public share offering. The proceeds from this offering will be allocated entirely to the purchase of bitcoin. The offering, which was announced on Friday, includes an initial issuance of 17 million common shares, with the possibility of expanding to 51 million shares based on demand. These shares will be sold exclusively to professional investors both within Brazil and abroad, following automatic registration rules.

Each share purchased will come with a package of free subscription warrants, divided into 10 series. These warrants will allow investors to buy additional stock at predetermined prices in the future. At current share prices, Méliuz anticipates raising around $26 million. However, this figure could increase to approximately $78 million if the overallotment options are fully exercised.

Investors participating in the offering will also receive 50.6 million warrants. Under maximum subscription conditions, up to 152 million warrants will be issued in total. Méliuz plans to use the funds raised to acquire bitcoin, positioning it as a "primary strategic asset" in its treasury. The firm, known for its cashback and financial services platform, had previously allocated 10% of its cash reserves to bitcoin back in March.

Warrant trading is expected to commence on June 16, with share settlement and the crediting of bonus instruments scheduled for June 18. Currently, Méliuz holds 320.2 BTC. Following the announcement, the company's shares experienced a decline of more than 8% during Friday’s trading session.