PANews reported on May 26 that, according to Cointelegraph, Blockstream CEO Adam Back led a funding round of 21 million Swedish kronor (approximately $2.2 million) for the Swedish health technology company H100 Group AB. The company stated last week that it would begin purchasing Bitcoin. On May 25, H100 said it raised funds through a 0% interest convertible loan and would buy Bitcoin as announced on May 22. Back invested approximately $1.4 million, with the remaining $800,000 coming from investment companies including Morten Klein.
After this funding round, H100 can purchase about 20.18 Bitcoin at the current market price, and combined with the 4.39 Bitcoin previously acquired, the total holdings will reach approximately 24.57 Bitcoin. The convertible loan is interest-free, expires on June 15, 2028, and can be converted to shares at any time at 1.3 Swedish kronor ($0.11) per share. If H100's stock price remains more than 33% above the conversion price for 60 trading days, the company has the right to force conversion, which would issue approximately 16.15 million new shares, diluting ownership by about 12%.
