Capital B, the Paris-listed bitcoin treasury company previously known as The Blockchain Group, announced a 10-for-1 reverse stock split effective September 8. This move will consolidate every 10 existing shares into one, reducing the total shares outstanding from 300,650,632 to 30,065,063, while increasing the par value from €0.08 to €0.80 per share. Despite the technical nature of this change, the aggregate value for shareholders remains unchanged except for fractional share adjustments.
The decision to execute this reverse split is a strategic attempt to appeal to institutional investors, many of whom face internal mandates that prevent them from holding stocks priced below certain thresholds. Currently, Capital B shares trade near €0.48 on Euronext Growth Paris, down roughly 40% since the start of 2026. Post-split, if the market capitalization remains stable, the price per consolidated share would approximate €4.80. Such a price adjustment could remove a significant barrier to institutional entry, potentially broadening the company’s investor base.
Shareholders must prepare for this transition between August 6 and September 7. Those holding shares not divisible by 10 will either need to trade to adjust their holdings or accept cash payments for fractional entitlements, with final distributions scheduled from September 14. The new consolidated shares will begin trading on September 8 under a new ISIN, with the record date set for September 9 and settlement on September 10. also the company will suspend activities related to convertible bonds and share warrants from August 17 through September 10, adjusting conversion prices and warrant ratios accordingly after the split.
this restructuring does not involve fresh bitcoin purchases or capital raising efforts. Capital B continues to hold a reserve of 3,139 BTC, maintaining its core treasury strategy intact. However, by making its shares more attractive to institutional investors, the company could see increased liquidity and investor diversification, which in turn might bolster its market positioning and valuation stability. This move resonates with recent trends where crypto-focused firms adjust corporate structures to align with traditional financial market requirements, as highlighted in similar corporate strategies.
This material is informational and not financial advice.
