Brazil’s Meliuz Tumbles After Announcing $32.4M Capital Raise to Acquire Bitcoin

Meliuz Stock Dips After Announcing $32.4M Fundraise to Kickstart Bitcoin Reserve Strategy

Brazilian fintech company Meliuz (CASH3) saw its shares decline on Friday after unveiling plans to raise R$180.08 million (~$32.4 million) through a discounted equity offering dedicated to acquiring bitcoin.

The offering is priced at R$7.06 ($1.27) per share — roughly 5% below Thursday’s closing price of R$7.43 — sparking a 5% drop in Meliuz’s stock during early trading hours.

The fundraising marks a key step in Meliuz’s transition toward becoming a bitcoin-holding public company. According to a prior announcement, the firm ultimately aims to raise as much as $78 million to build a significant bitcoin treasury, positioning itself as Brazil’s first major corporate adopter of such a strategy.

BTG Pactual is serving as the book-runner on the deal.

With a user base of over 41 million and branding itself as one of Brazil’s fastest-growing shopping apps, Meliuz has ambitions to merge fintech services with digital asset integration. The company currently has a market cap of R$647.08 million ($116.5 million), based on data from TradingView.

The move mirrors similar strategies from international firms seeking to diversify treasury assets and align with growing crypto adoption, though investors appear cautious in the short term.