The publicly-listed Vaultz Capital has completed a fundraising worth £1 million in ordinary shares. The company will use it to buy more Bitcoin for its reserves.
In a recent press release, the digital asset operating company has announced that it has issued 6,060,607 new ordinary shares, each valued at one pence. In total, the issuance of ordinary shares has raised as much as £1 million or worth $1.34 million in capital funding according to the company.
The ordinary shares sale will be traded on the AQSE Growth Market and admission is scheduled to take place on or around July 17.
Vaultz Capital stated through the announcement that proceeds raised from the sale of ordinary shares will go to the company’s operational costs and mainly to buy more Bitcoin (BTC) for its BTC Treasury Strategy.
The ordinary shares sale will involve Global Investment Strategy U.K. Limited as the designated bookrunner, while Cairn Financial Advisers will be acting as the AQSE Corporate Adviser for Vaultz Capital.
Since the announcement, the price of Vaultz Capital shares has jumped up by 2.01%. Each share is now valued at $16.89, according to Yahoo Finance data.
Once the new shares have been issued, it will bring the total number of Vaultz Capital shares to 129,265,196 shares. The company clarified in the announcement that it does not hold any of its own shares.
CEO of Vaultz Capital, Alex Appleton, said that the company is looking forward to making more fundraising efforts to increase investor confidence in the firm’s new treasury strategy, which will continue to add BTC to its balance sheet.
“We’re delighted to have completed another successful £1 million raise, reinforcing our balance sheet and signaling continued investor confidence in our vision and execution,” said Appleton in his statement.
Since its announcement in May of this year, Vaultz Capital has been committed to building a Bitcoin treasury with the goal of becoming “a leading corporate holder of Bitcoin.” As of July 14, Vaultz Capital owns 50 BTC in its corporate holdings with a profit and loss margin of 14.24%. The average value of each BTC is estimated to be around $107,320 according to data from Bitcoin Treasuries.
Most recently, BTC has reached a new ATH, surging past the $120,000 threshold and nears the $123k mark, as it continues its upward trend to $122,838.
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