Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) told investors it has raised £500,000 of gross proceeds in its WRAP Retail Offer, which was substantially oversubscribed.
The equity raise was priced at 6p per share, and, some 8.33 million shares will now be issued. The firm noted that the process saw demand equivalent to four times the offer size.
Yesterday, Coinsilium announced it had raised £5 million in a broker-led placing, with Oak Digital Capital taking up £2 million of the new shares.
Proceeds from the raise will be used predominantly to further invest in Forza, the company’s wholly owned Bitcoin Treasury Strategy subsidiary.