The Sweden-based Fragbite Group AB has secured a 5 million SEK investment to kickstart its new Bitcoin Treasury unit. The deal comes in the form of an interest-free loan with a potential to convert into shares.
As per reports, the conversion—priced at SEK 10 per share—can occur before 30 November 2028, provided share prices exceed that mark by 30% for ten of twenty consecutive trading days.
Additionally, the conversion decision requires shareholder approval since three investors are company insiders. These include Board members and newly appointed Treasury Director, Patrik von Bahr. He personally committed SEK 1 million. The Company plans to hold an Extraordinary General Meeting following its next interim report to get the required nod.
Favorable Terms and Strategic Direction
The conversion price comes with a 13.4% premium compared to the share price prior to the agreement. On top of that, the loan features a zero-interest structure and a lock-up period. Both the Company and the investors have the option to initiate conversion once the necessary conditions are fulfilled.
Fragbite sees this move as a foundation for building a strong capital structure through Bitcoin exposure. Consequently, the Company will introduce a new metric—Bitcoin per Share—in its upcoming financial report.
Also Read: Bitcoin Treasury Companies are Financial Hype of 2025: CryptoQuant
