Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The proposed bitcoin-for-bitcoin acquisition of Moonshot and Never Say Die would increase the company’s holdings threefold and enhance its institutional scale.
(CARTIST/Unsplash)
Key points:
- The proposed acquisition would triple holdings to approximately 3,500 BTC, establishing H100 as the largest publicly traded bitcoin treasury firm in Europe.
- This transaction is designed as a bitcoin-for-bitcoin swap, maintaining shareholder exposure while significantly enhancing the balance sheet.
H100 Group (H100), a publicly listed bitcoin treasury company focused on facilitating institutional access to bitcoin, announced that it has signed a letter of intent to acquire the Norwegian firms Moonshot AS and Never Say Die AS to boost its holdings of the leading cryptocurrency.
If finalized, the acquisition would nearly triple H100’s bitcoin assets to around 3,500 BTC, positioning it among the largest publicly listed bitcoin treasury firms in Europe. Additionally, H100 aims to enhance its institutional profile, increase liquidity, and broaden its presence in capital markets.
Related Posts
This announcement comes after the company’s declaration in January regarding its intention to merge with Future Holdings AG, a bitcoin treasury firm based in Zurich. Both entities are supported by Adam Back, a British cryptographer and co-founder of Blockstream.
The transaction is structured as a bitcoin-for-bitcoin exchange, implying that ownership in the resulting entity will be determined exclusively by the quantity of bitcoin contributed. This method ensures that existing investors retain their bitcoin exposure per share, preventing dilution while significantly scaling the company’s balance sheet.
The acquisition will be carried out as an all-share transaction with no cash involved.
The target companies together possess approximately 2,450 BTC.
Definitive agreements are anticipated by April 22, with completion expected shortly after the company’s annual general meeting in May, pending final approvals.
The announcement resulted in a 2% increase in H100’s stock on the day.
