Méliuz Plans to Raise $26.5 Million for More Bitcoin

Méliuz, a Brazilian publicly traded company, has announced its intention to continue holding $26.5 million worth of Bitcoin as part of its treasury strategy. This decision follows the company's initial purchase of approximately 274.52 BTC, valued at around $28.5 million, earlier this month. The company, listed on the Brazilian stock exchange B3, aims to raise funds to further expand its Bitcoin holdings.

Méliuz's CEO, Israel Salmen, stated that the company is evaluating various fundraising options, including the issuance of shares or convertible debt. The firm is working with the São Paulo-based investment banking firm BTG Pactual to coordinate its next Bitcoin purchase. Marcio Loures Penna, Méliuz’s Director of Investor Relations and Corporate Governance, confirmed that the company may issue financial assets representing debt securities, which could be convertible into shares or offered in a non-convertible form. Alternatively, Méliuz may opt for a primary public offering for common shares, with possible subscription bonuses.

The company's goal is to raise 150 million real ($26.5 million) for new Bitcoin acquisitions, but it has indicated that it may spend more if opportunities arise. However, Méliuz has cautioned that its plans are provisional and subject to an evaluation process before finalizing the next Bitcoin purchase. The company has assured its shareholders and the market that it will keep them informed of any developments regarding its Bitcoin strategy, adhering to best corporate governance practices and applicable regulations.

Méliuz, founded in 2011, offers a range of services including cashback and voucher offerings for online and brick-and-mortar retailers, as well as the Méliuz credit card. The company successfully launched an initial public offering on the Brazilian B3 exchange in November 2020, raising $103 million. With its latest Bitcoin acquisition, Méliuz now holds a total of 320.2 BTC, solidifying its position as Brazil’s first stock market-listed Bitcoin treasury company. The company's strategic move to continue holding Bitcoin reflects its commitment to integrating digital assets into its financial operations and treasury management.

Méliuz's decision to continue holding Bitcoin is a significant move in the Brazilian market, as it is the first publicly traded company in the region to include Bitcoin in its balance sheet. The company's Bitcoin asset allocation strategy has received overwhelming shareholder support, with an overwhelming majority in favor. This move underscores Méliuz's confidence in the long-term value of Bitcoin and its potential to enhance the company's financial strategy.