Vinanz Ltd (LSE:BTC, OTCQB:VINZF), the Bitcoin-focused investment company listed on the London Stock Exchange, has launched a fresh retail share offer worth £1 million and confirmed its name change to London BTC Company.
The group, which holds 65 Bitcoin and operates mining operations across the United States and Canada, is selling roughly 5.4 million new shares at 18.5p apiece through the Winterflood Retail Access Platform, known as WRAP.
The offer, which closes on Thursday afternoon, is open to new and existing UK-based investors with a minimum subscription of £500.
Vinanz said the proceeds would go towards supporting its Bitcoin treasury strategy, a business model that involves holding and potentially expanding a balance sheet of Bitcoin while also operating mining infrastructure.
The company disclosed last week that it had added to its holdings and intends to keep building its exposure to the cryptocurrency.
The latest investment round follows an oversubscribed WRAP offer last month that brought in £3.6 million of new funds.
Vinanz also confirmed on Thursday that its previously announced rebranding has taken effect, with the company now trading under the name London BTC Company.
The change, first flagged in early June, reflects the business's focus on Bitcoin and its main listing in London.
CEO Hewie Rattray said: "This name change marks a defining moment in our evolution.
"At the London BTC Company we're doubling down on our mission to provide investors with clean, direct and amplified exposure to Bitcoin investing - all through a fully regulated, London Stock Exchange main board listed company, on the world's most historic and one of the world's most respected stock exchanges.
"We're building the playbook for Bitcoin capital markets in London."