Samara Asset Group Plans up to $32.8M Bond to Expand Bitcoin Holdings
10/14/2024 18:32Samara has mandated Pareto Securities to manage bond issuance, which aims to increase bitcoin reserves and expand its investment portfolio.
The bond proceeds will fund acquisitions in alternative investment funds and increase Samara's bitcoin position.
The 30 million euro ($32.78 million) bond will be listed on both the Oslo and Frankfurt stock exchanges with a minimum subscription of $109,000.
Listed-investment firm Samara Asset Group (SRAG) will issue an up to 30 million euro ($32.78 million) bond to buy bitcoin {{BTC}}.
Samara has mandated Pareto Securities as the sole manager to organize multiple fixed-income investor meetings. The bond would be a senior secured Nordic bond and the proceeds will be used to expand Samara's diversified portfolio, which includes buying additional stakes in alternative investment funds and increasing its bitcoin holdings.
Bitcoin serves as Samara's primary treasury reserve asset.
The bond would be issued by Samara Asset Group p.l.c. with Samara Asset Holdings Ltd., a special purpose vehicle (SPV), serving as the bond guarantor. The bond will be listed on the Oslo and Frankfurt stock exchanges, with a minimum subscription requirement of 100,000 euros.
Patrik Lowry, CEO of Samara, emphasized the importance of the bond, saying, "“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. With Bitcoin as our primary treasury reserve asset, we also enhance our liquidity position with bond proceeds.”.
Lowry also posted on X and commented, "We are forever #HODL'ers and believe technology best drives humanity forward!"
Samara Asset Group's share price was up over 6% at 2.04 euros on Monday.