Crisp, Business News Style
Fold Secures $250M Equity Deal to Boost Bitcoin Reserves
Fold (FLD), the Arizona-based bitcoin financial services company, has lined up an equity purchase facility of up to $250 million as it eyes further growth in its bitcoin holdings.
Announced Tuesday, the agreement gives Fold the option—but not the obligation—to issue and sell new shares worth up to $250 million, subject to regulatory clearance.
Proceeds from any share sales are expected to be largely directed toward expanding Fold’s bitcoin treasury, which currently holds 1,490 BTC.
The facility was arranged by Cohen & Company Capital Markets, part of J.V.B. Financial Group, LLC.
