Samara Asset Group will issue a €30 million ($32.8 million) bond, utilizing the proceeds to diversify and increase the size of its Bitcoin reserves.
Samara Asset Group stated in a news release on October 14 that it plans to boost its holdings of Bitcoin and purchase more shares in alternative investment vehicles.
Samara has given Pareto Securities the authority to oversee the bond’s issuance, and the company is planning to schedule several meetings with fixed-income investors for a senior secured Nordic bond with a maximum value of €30 million.
The bond will have a minimum subscription requirement of €100,000 in the allotted amount and will be placed on the unregulated stock markets in Frankfurt and Oslo.
According to Patrick Lowry, CEO of Samara Asset Group, Bitcoin serves as the investment company’s main treasury reserve asset, and he plans to use the bond’s revenues to buy more of the cryptocurrency. Lowry said:
The proceeds will allow Samara to further expand and solidify its already robust balance sheet as we diversify into new emerging technologies through new fund investments”
The publicly traded company will use the money from the bond to “invest in innovative tech through managers and builders and to increase our Bitcoin treasury,” according to Lowry, who made the announcement in an X post.
“We are forever HODL’ers and believe technology best drives humanity forward!” wrote Lowry.
In a different post, he expressed his ambition that Samara will eventually be able to retain as much Bitcoin as Microstrategy, the biggest corporate Bitcoin holder in the United States, which currently has more than $458 million in reserves.
According to statistics from Bloomberg, Samara Asset Group’s share price was up more than 6% at €2.04 on the announcement day.
As a member of the advisory committee for Samara, Christian Angermayer stated that the organization’s goal is to “seed the world’s best managers and builders” in order to advance humanity via innovation. The company plans to boost its Bitcoin holdings in line with its mission. Angermayer said:
With this new dry powder, we are excited to invest in and partner with the builders of tomorrow’s most disruptive technologies and grow our Bitcoin position”
