Samara Asset Group, a listed German investment firm, has announced plans to raise up to €30 million ($32.8 million) through a Nordic senior secured bond issue. The capital raise aims to expand the company's investment portfolio and significantly increase its bitcoin holdings, positioning it to potentially rival Michael Saylor's MicroStrategy.
$32.8 million in bonuses to buy bitcoin
The company has commissioned Pareto Securities, as the sole manager, to organize a series of meetings with fixed income investors. The bond issue, subject to market conditions, is intended to be listed on the unregulated markets of the Oslo and Frankfurt Stock Exchanges. The private placement requires a minimum subscription and allocation amount of €100,000.
The bond will be issued by Samara Asset Group plc, with a newly formed special purpose vehicle (SPV), Samara Asset Holdings Ltd., pledged in favor of the bond and acting as guarantor. This structure takes advantage of the Nordic bond framework, known for its flexibility and favorable conditions for investors.
“The proceeds from the bond are intended to expand Samara's diversified investment portfolio by acquiring additional limited partnership stakes in alternative investment funds, as well as increasing its position in bitcoin, which Samara uses as its main reserve asset. treasure,” the company stated in its official bitcoin-treasury” target=”_blank” rel=”noopener nofollow”>Press release.
Patrick Lowry, CEO of Samara Asset Group, expressed excitement about the bond issue: “We are excited at the prospect of placing this bond and look forward to using the proceeds to acquire more bitcoin and continue to seed the world's best emerging managers. The proceeds will allow Samara to further expand and solidify its already strong balance sheet as we diversify into new emerging technologies through new fund investments. With bitcoin as our primary treasury reserve asset, we also improve our liquidity position with bond proceeds.”
Christian Angermayer, member of the Samara Advisory Committee, added: “Our mission at Samara is to drive humanity forward through innovation, seeding the best managers and builders in the world. With this new dry powder, we are excited to invest in and partner with the creators of the most disruptive technologies of tomorrow and grow our position in bitcoin.”
German microstrategy
On x (formerly twitter), Patrick Lowry shared the company's aspirations to invest in innovative technology and increase its bitcoin treasury by issuing bonds. He reaffirmed Samara's commitment to holding bitcoin for the long term and his belief in technology as a key driver for the advancement of humanity.
“At listed Samara AG, we are issuing up to €30 million in bonds to invest in innovative technology through managers and builders, and to increase our bitcoin treasury! We will always be supporters of HODL and believe that technology best drives humanity forward! he x.com/Patrick_Lowry_/status/1845737954825605245″ target=”_blank” rel=”noopener nofollow”>commented.
In response to a news report about x, Lowry x.com/Patrick_Lowry_/status/1845736605144805404″ target=”_blank” rel=”noopener nofollow”>fixed: “We at Samara AG have been HODLing for years and are now growing our bitcoin treasury and investing in disruptive technology through senior management and builders. I'm not sure it's possible, but it would be a dream to accumulate as much as @saylor.”
When asked by an x user about the challenges of offering bonds for European corporations, Lowry revealed that this is the first bond issuance at Samara AG, and the first of its specific type in Europe. “I'll let you know how it goes in the next few weeks based on the feedback,” he said.
At the time of publication, btc was trading at $64,922.
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