Fold (FLD), a publicly traded bitcoin financial services company, has secured an equity purchase facility worth up to $250 million to grow its bitcoin BTC holdings.
The Arizona-based firm said on Tuesday it signed an agreement granting it the right, but not the obligation, to issue and sell up to $250 million in new shares, pending regulatory conditions.
If activated, Fold plans to direct most of the proceeds toward expanding its corporate bitcoin treasury, which already holds 1,490 BTC. The facility was arranged through Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC.
Read more: Bitcoin Rewards App Fold Volatile in Wall Street Debut
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