Practical Blockchain Group Raises Approximately 10 Billion Yen in Bitcoin Purchase Funds | CoinDesk JAPAN

• The Blockchain Group issued convertible bonds worth $71.9 million to strengthen its Bitcoin financial strategy.
• Moonlight Capital underwrote a Bitcoin-denominated corporate bond worth $5.7 million at a 30% premium.
• Investor Adam Back converted his corporate bonds into 14.88 million shares in line with the company's long-term vision.

A company listed on the Paris market focusing on data intelligence and decentralized technology, Blockchain Group, has issued convertible bonds worth 63.3 million euros (approximately 10.128 billion yen, based on an exchange rate of 1 euro = 160 yen) to promote its Bitcoin (BTC) financial strategy.

This fundraising conducted through a subsidiary in Luxembourg symbolizes an important initiative aimed at expanding the company's BTC reserves and strengthening its investor base.

One of the key elements of this fundraising is the BTC-denominated corporate bond worth $5.7 million (approximately ¥798 million, based on an exchange rate of 140 yen to the dollar) underwritten by Moonlight Capital. This bond was issued at a 30% premium over the closing price of May 23 (about $4.3 per share).

The company also exercised all rights to the convertible bond B-02, initially reserved for the strategic investment firm Fulgur Ventures and UTXO Management, at a price of $0.79 per share, reaching a total of $66 million (approximately ¥9.24 billion).

It is noteworthy that investor Adam Back converted all of his corporate bonds into 14.88 million shares, strengthening the alignment with the company's long-term vision. These inflows are expected to raise funds for the acquisition of 590 BTC, increasing the blockchain group's held BTC to approximately 1437 BTC.

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