Vinanz Ltd (LSE:BTC, OTCQB:VINZF), the Bitcoin-focused investment and mining company listed on the London Stock Exchange, has opened a £1m retail share offer as part of a wider push to expand its strategy and shareholder base.
Shares are being offered at 13.75p each through the Winterflood Retail Access Platform, better known as WRAP, with the offer open until 16 June.
The move comes as Vinanz prepares to rebrand as the London BTC Company, a change announced earlier this month as it seeks to position itself more clearly as a digital asset business.
The firm has already started bolstering its Bitcoin holdings, adding 16.9 coins to its treasury in May and stating its intention to continue building this reserve.
The proceeds from the new share issue will be used to support the company’s mining operations in the United States and Canada, as well as broader corporate ambitions outlined in its recent prospectus.
Investors can subscribe via participating platforms, provided they meet the eligibility criteria and commit a minimum of £500.
The WRAP structure is designed to give retail investors direct access to fundraising events normally dominated by institutions. In this case, it allows both existing and new investors to take part in a capital raise without the need for a full prospectus. That said, the usual risks apply.
As the company itself points out, this is an early-stage business with exposure to the highly volatile cryptocurrency market, and investors could lose all of their money.
The new shares are expected to start trading on the Main Market at 8 am on 20 June, provided all conditions are met.
Investors who apply should be aware that once orders are submitted through intermediaries, they cannot be withdrawn.
Vinanz has a dual strategy: It is a Bitcoin miner and a listed treasury play on the digital asset.