Fragbite Group AB, a Swedish gaming and Web3 company, has signed an agreement for an investment of SEK 5 million in connection with the establishment of the Bitcoin Treasury business area. The investment consists of an interest-free convertible loan.
As part of the creation of the new business area, Patrik von Bahr has been recruited to the role of Treasury Director.
Patrik von Bahr is a passionate “Bitcoin maximalist” who has acquired specialist expertise in the relatively new area of “Bitcoin as a strategic corporate asset” through his investments in industry.
“We believe that the Bitcoin/Share CPI, and the ability to increase it, will be a fundamental way of valuing companies in the future. By being early in this paradigm shift, we look forward to building a disproportionate amount of shareholder value in both the short and long term,” says von Bahr.
The new Treasury strategy was launched on June 30, while the investment was announced on July 3.
It is a sign of strength to be able to close this investment so quickly after the launch of Bitcoin Treasury, thus ensuring establishment liquidity for the new business area,” says Stefan Tengvall, CEO of Fragbite Group. “I am delighted that our investors share the company's view that we need to find more efficient and ambitious ways to build a strong capital structure, and increase shareholder value with Bitcoin as leverage.
Initially, the investment is made by Fragbite Group receiving an interest-free loan totaling SEK 5 million from the investors. The parties' intention is that the loan will be convertible into shares at a conversion price of SEK 10 per share no later than 30 November 2028 or earlier.
The investment is being made in conjunction with the launch of Fragbite Group's new Bitcoin Treasury business area, with the aim of quickly adding establishment liquidity to the business. The new business area enables the placement of profits from the core business in Bitcoin, with the intention of building a strong capital structure within the Group.
Fragbite Group AB, a Swedish gaming and Web3 company, has signed an agreement for an investment of SEK 5 million in connection with the establishment of the Bitcoin Treasury business area. The investment consists of an interest-free convertible loan.
As part of the creation of the new business area, Patrik von Bahr has been recruited to the role of Treasury Director.
Patrik von Bahr is a passionate “Bitcoin maximalist” who has acquired specialist expertise in the relatively new area of “Bitcoin as a strategic corporate asset” through his investments in industry.
“We believe that the Bitcoin/Share CPI, and the ability to increase it, will be a fundamental way of valuing companies in the future. By being early in this paradigm shift, we look forward to building a disproportionate amount of shareholder value in both the short and long term,” says von Bahr.
The new Treasury strategy was launched on June 30, while the investment was announced on July 3.
It is a sign of strength to be able to close this investment so quickly after the launch of Bitcoin Treasury, thus ensuring establishment liquidity for the new business area,” says Stefan Tengvall, CEO of Fragbite Group. “I am delighted that our investors share the company's view that we need to find more efficient and ambitious ways to build a strong capital structure, and increase shareholder value with Bitcoin as leverage.
Initially, the investment is made by Fragbite Group receiving an interest-free loan totaling SEK 5 million from the investors. The parties' intention is that the loan will be convertible into shares at a conversion price of SEK 10 per share no later than 30 November 2028 or earlier.
The investment is being made in conjunction with the launch of Fragbite Group's new Bitcoin Treasury business area, with the aim of quickly adding establishment liquidity to the business. The new business area enables the placement of profits from the core business in Bitcoin, with the intention of building a strong capital structure within the Group.
