Press Release
CMS Francis Lefebvre advised Capital B (The Blockchain Company), a company whose securities are listed on Euronext Growth Paris and Europe's leading Bitcoin Treasury Company, which also owns subsidiaries specializing in consulting and development in data intelligence, AI, and decentralized technologies, in connection with a capital increase through a private placement with institutional investors for a total amount of €58.1 million.
The capital increase was carried out through accelerated bookbuilding (ABB) on the evening of September 15 with institutional investors in Europe and outside Europe, including the United States.
The settlement and delivery of the new shares and their admission to trading on Euronext Growth Paris took place on September 18, 2025.
This transaction, which did not require the preparation of a prospectus for approval by the French Financial Markets Authority (AMF), will enable Capital B to strengthen its balance sheet by accumulating bitcoin as a long-term reserve asset.
Cantor Fitzgerald Europe acted as Sole Global Coordinator and Joint Bookrunner, and TP ICAP acted as Joint Bookrunner.
The CMS Francis Lefebvre team included Bertrand Sénéchal, partner, Myriam Issad, counsel, and Natan Bisson-Kocanski, associate. David Riviera, counsel at CMS UK, advised on US securities law aspects. CMS Francis Lefebvre had previously advised Capital B on the implementation of its ATM program in June 2025 (CMS Francis Lefebvre, legal advisor to Capital B).
The banks were advised by Jeantet on French law aspects and by the Frankfurt office of Willkie Farr & Gallagher on US law aspects.
