News that the Reform politician was invested in Stack BTC saw the Aqui-listed vehicle more than double in value on Monday.
Stack BTC on Monday announced a £260,000 equity raise that will give Nigel Farage around 6.31% stake in the Aquis-listed bitcoin treasury company.
The company, chaired by former Chancellor Kwasi Kwarteng, said the proceeds will support its plan to build a portfolio of cash-generative UK businesses while accumulating bitcoin as a treasury asset (it currently holds 21 BTC).
Stack BTC issued 5.2 million new ordinary shares at £0.05 each, raising £260,000 in the round that also included Blockchain.com; Farage invested £215,000 through his Thorn In The Side Ltd vehicle and will hold roughly 6.31% after the admission of the new shares.
"I am delighted to have become an investor in Stack and lend my support to the team," Farage said in an announcement for the AQUIS exchange quoted firm.
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Blockchain.com will assist Stack BTC in developing its bitcoin treasury infrastructure and institutional-grade custody services, the company said in the announcement.
Stack BTC shares more than double in price, adding 104% to 12.5 pence in London trading after news of the fundraising spread.
The recap
- Nigel Farage bought a stake in Stack BTC Plc.
- Fundraise issued 5.2 million shares at £0.05 each.
- Company holds 21 BTC and plans bitcoin treasury accumulation.
