Fold Discloses $45 Million Bitcoin Sale, Pays Off Collateralized Debt as Shares Surge 160%
Fold, the Nasdaq-listed Bitcoin financial services company, said it sold about $45 million of Bitcoin at an average price of roughly $71,000 as part of a capital restructuring that eliminated its secured debt. About $20 million of the proceeds went to repay Bitcoin-backed secured debt, while the remaining $25 million was set aside for growth initiatives.
The company said the transaction improved liquidity and its cash-flow structure while preserving a meaningful Bitcoin reserve and flexibility to adjust asset allocation for future growth. Fold's shares surged 160% after the disclosure.
From the sources (3 posts)
@wublockchainFold Sells About $45M in Bitcoin to Repay Debt and Fund Growth Nasdaq-listed Bitcoin financial services company Fold said it sold about $45 million worth of Bitcoin at an average price of $71,000 and completed a series of capital restructu
@cryip_coFOLD ELIMINATES DEBT AND ADDS $25M FOR GROWTH. • Fold monetized approximately $45M of Bitcoin at an average price of about $71,000 per BTC. • The company used $20M to repay its bitcoin-collateralized debt, eliminating all secured debt obli
@theblockcoFold discloses $45 million bitcoin sale, pays off collateralized debt in full; shares surge 160%