Summary
- H100 Group said it signed a letter of intent (LOI) to acquire 100% of the equity in Norwegian firms Moonshot AS and Never Say Die AS.
- H100 said the transaction would increase its bitcoin (BTC) holdings from about 1,051 to roughly 3,501, potentially positioning it as one of Europe’s listed bitcoin treasury companies.
- The company emphasized a BTC-for-BTC structure, asset-base expansion without equity-value dilution, and stronger institutional investor access and capital markets access, targeting completion on May 21.
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H100 is reportedly preparing to pursue an acquisition deal aimed at expanding its bitcoin (BTC) holdings.
According to a disclosure on its official website on the 23rd, H100 Group signed a letter of intent (LOI) to acquire 100% of the equity in Norwegian companies Moonshot AS and Never Say Die AS. The transaction will be carried out as a full-share swap via the issuance of new shares.
The deal is structured as a BTC-for-BTC transaction. Equity will be determined based on the amount of bitcoin held by each side, and existing shareholders’ bitcoin exposure will be maintained, the company said. The company added, “A bitcoin-denominated structure allows us to expand our asset base without diluting the equity value of existing shareholders.”
Upon completion, H100’s bitcoin holdings are expected to increase to about 3,501 from roughly 1,051, as the acquisition targets hold around 2,450 bitcoins. The company said it expects this to position it as one of Europe’s leading listed bitcoin treasury companies.
Management assessed the transaction as an opportunity to strengthen both institutional investor access and its market standing. H100 Chairman Sander Andersen said, “Scale, credibility and access to capital markets are becoming increasingly important in the bitcoin market,” adding, “This transaction is a strategic move that strengthens all of these elements.”
Moonshot CEO Eirik Grotum also said, “Securing a listed structure and access to capital markets provides a foundation to execute our long-term strategy,” adding, “We will strengthen a structure that combines bitcoin holdings with capital markets activity.”
The two sides are aiming to sign definitive agreements by April 22 and plan to complete the transaction after the shareholder meeting on May 21. Even after completion, H100 plans to maintain its existing listing structure and business model.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
