Brazilian fintech firm Meliuz (CASH3) plans to raise R180.08 million ($32.4 million) through an equity offering, according to a filing.
The funding is earmarked specifically for the purchase of bitcoin, aligning with the company’s recent strategic shift to incorporate bitcoin into its balance sheet.
The offering, priced at R7.06 ($1.27) per share, was about 5% less than Meliuz’s closing price of R7.43 on Thursday. The stock has fallen more than 5% in today’s trading.
BTG Pactual served as the book-runner for the deal, according to the filing.
Earlier this year, Meliuz announced that the company plans to raise $78 million in equity to become “the first bitcoin treasury company” in Brazil.
The fintech company, which calls itself “3rd fastest growing shopping App in Brazil,” boasts about 41 million loyal users as of the first quarter of this year, according to a presentation. The company currently has a market cap of R647.08M ($116.5M), according to TradingView data.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
BTC's three-month uptrend against gold has broken down amid strong inflows into gold and precious…
Ran Neuner says Bitcoin’s chart structure is starting to resemble the breakdown pattern that preceded…
A technical setup brewing on the bitcoin chart could decide which way the market breaks…
Bitcoin price started a downside correction from the $77,800 zone. BTC is showing bearish signs…
The Bitcoin price is under renewed pressure as a crypto analyst warns the market could…
Bitcoin is facing renewed selling pressure as uncertainty continues dominating global financial markets, but bulls…