H100 Group has been awarded a SEK 21 million convertible bond commitment from Adam Back, with funds to be used for the Bitcoin strategy

PANews
PANews
BTC-3.62%

PANews reported on June 4 that H100 Group, a Swedish health technology company, announced that it had signed an investment agreement with Adam Back, co-founder of Blockstream, to obtain the first commitment of 21 million Swedish kronor (about $2.1 million) in convertible bond financing. Back also has the right to invest up to SEK 128 million (approximately US$12.8 million), for an expected total financing of SEK 277 million (approximately US$27.7 million).

The funds are said to be used to support H100 Group's Bitcoin Treasury strategy, strengthen its balance sheet, and advance its vision for healthtech infrastructure. The conversion price is set at SEK 1.75 to SEK 5.00 per share, with a five-year loan term and no interest on the loan.

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