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Samara Asset Group plans to issue $32.8m bonds to boost its Bitcoin holdings
Samara Asset Group will issue a €30 million ($32.8 million) bond through Pareto Securities, which it will use to expand its Bitcoin reserves and diversify its holdings.
According to the investment firm’s press release on Oct. 14, Samara Asset Group announced it intends to buy additional stakes in alternative investment funds as well as increase its Bitcoin(BTC) holdings.
Samara has mandated Pareto Securities to manage bond issuance, set to arrange a series of fixed income investor meetings for a bond of up to €30 million euros in senior secured Nordic bond. The bond will be listed on unregulated Oslo and Frankfurt stock exchanges, with a minimum subion requirement of €100,000 in allocated amount.
CEO of Samara Asset Group, Patrick Lowry, stated that Bitcoin is the investment firm’s primary treasury reserve asset and that he is looking forward to using the the proceeds from the bond to acquire more Bitcoin.
“The proceeds will allow Samara to further expand and solidify its already robust balance sheet as we diversify into new emerging technologies through new fund investments,” said Lowry.
In an X post announcing the move, Lowry stated that that the publicly-listed firm will use the funds acquired from the bond to “invest in innovative tech through managers and builders, and to increase our Bitcoin treasury”.
“We are forever HODL’ers and believe technology best drives humanity forward!” wrote Lowry.
He added in a separate post that he hopes someday Samara will be able to hold as much Bitcoin reserves as Microstrategy, the largest corporate BTC holder in the U.S with more than $458 million worth of BTC in their reserves.
On the day of the announcement, Samara Asset Group’s share price was up over 6% at €2.04 according to Bloomberg’s data.
Christian Angermayer, member of Samara’s Advisory Committee, said that Samara aims to drive humanity forward through innovation by “seeding the world’s best managers and builders”. In accordance with their mission, the firm intends to increase their holdings in Bitcoin.
“With this new dry powder, we are excited to invest in and partner with the builders of tomorrow’s most disruptive technologies and grow our Bitcoin position,” said Angermayer.