Stack BTC Plc (STAK) today announced that it has completed an equity fundraising amounting to £2,116,500 gross at a price of £0.05 (5 pence) per share through the issue of 42,330,000 New Ordinary Shares.

The fundraise comprises an equity participation by a broad range of investors which will enable the company to progress its strategy.

The following directors and senior management participated in the fundraising:

The proceeds will be utilised to commence the M&A strategy, initiate the company’s Bitcoin treasury and for general working capital purposes.

A Concert Party existed comprising Paul Withers, Daniel Howe, Kwasi Kwarteng, Jai Patel, Brendan Kearns, and Sam Daughtry, collectively holding 72% of the Company’s share capital. Following Admission of the New Ordinary Shares, the Concert Party’s aggregate shareholding will be reduced to 48.94% of the company’s issued share capital.