Fold Sets Up $250M Equity Facility to Strengthen Bitcoin Treasury
Bitcoin-focused financial services firm Fold (FLD) has secured an equity purchase facility worth up to $250 million, aiming to further build out its bitcoin holdings.
The Arizona-based company revealed Tuesday that it has signed an agreement granting it the right—but not the obligation—to issue and sell new shares totaling up to $250 million, pending regulatory approval.
If executed, Fold plans to use a majority of the proceeds to increase its corporate bitcoin treasury, which currently holds 1,490 BTC.
The facility was arranged through Cohen & Company Capital Markets, a unit of J.V.B. Financial Group, LLC.
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