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Fold Eyes Bigger Bitcoin Stash with New $250M Equity Facility
Fold (FLD) is gearing up to expand its bitcoin treasury, revealing plans for an equity purchase facility worth up to $250 million.
The Arizona-based firm, publicly traded and focused on bitcoin financial services, said Tuesday it has secured the right—though not the obligation—to issue and sell as much as $250 million in new shares, pending regulatory approvals.
Should it tap into this facility, Fold intends to allocate much of the funding toward increasing its bitcoin holdings, which currently stand at 1,490 BTC.
The financing arrangement was organized by Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC.
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