- K33 secures $5.5M to adopt a Bitcoin treasury strategy, reinforcing its long-term crypto commitment and financial foundation.
- Through share issues and convertible loans, K33 ensures rapid capital access while avoiding costly and delayed rights offerings.
- The flexible structure with warrants and early loan conversion terms positions K33 for sustainable growth and strategic agility.
Norwegian crypto brokerage K33 has launched a Bitcoin treasury strategy, securing SEK 60 million (roughly $5.5 million) to purchase BTC. This move reflects the firm’s strong belief in Bitcoin’s role in the evolving global financial system. CEO Torbjørn Bull Jenssen emphasized that the initiative strengthens K33’s balance sheet and marks a major strategic milestone. The capital raise was structured through new share issues and interest-free convertible loans.
Structured Funding for Bitcoin Allocation
K33 raised SEK 15 million through share and warrant issues. Additionally, it secured SEK 45 million via interest-free convertible loans. Investors received shares at SEK 0.050 per share—the same as the average trading price on May 27, 2025. Consequently, each converted share before March 15, 2026, grants one free Additional Warrant.
Besides this, the company may raise up to SEK 75 million through full utilization of issued and Additional Warrants. These warrants allow investors to subscribe for shares quarterly through June 2026. The strategic decision came after the Board explored alternative capital options and assessed market conditions thoroughly.
Flexible Issuance with Long-Term Commitment
K33 directed the share issues to the Klein Group and Middelborg Invest AS. These investors have shown long-term interest and are considered vital for stable ownership. The Board will call an Extraordinary General Meeting to approve Middelborg’s share and warrant allocation.
Moreover, the convertible loans mature in June 2028 but can be repaid early at a 10% premium from June 2027. Investors can convert these into shares quarterly from September 2025 to June 2028. These shares also come with Additional Warrants for early conversions.
Market-Aligned Capital Strategy
The company rejected a rights issue due to its complexity, longer timeline, and potential market volatility. Besides, rights issues typically demand underwriters, which would have increased costs and risks. The chosen strategy offered lower costs and faster execution.
Furthermore, the subscription and conversion prices align with market rates, determined through direct negotiations. Hence, K33 now gains a balanced capital structure to support both treasury objectives and future growth opportunities.
