Bitrabo Editorial
Samara Asset Group, a publicly traded investment firm in Germany, is looking to raise as much as €30 million (approximately $32.8 million) through a senior secured Nordic bond offering. This funding will be used to grow the company’s investment portfolio and substantially increase its Bitcoin reserves, potentially allowing it to compete with firms like Michael Saylor’s MicroStrategy.
Raising $32.8 Million to Boost Bitcoin Holdings
For this bond issue, Samara has appointed Pareto Securities as the exclusive manager to set up fixed-income investor meetings. The bonds, depending on market circumstances, are expected to be listed on the Oslo and Frankfurt Stock Exchanges. Investors must commit to a minimum of €100,000 for the private placement.
The issuance will come from Samara Asset Group p.l.c., using a newly established special-purpose vehicle called Samara Asset Holdings Ltd. This SPV will act as the guarantor for the bond, taking advantage of the flexible and investor-friendly Nordic bond market.
According to the company’s official press release, the funds will be used to acquire limited partnership stakes in alternative investment funds and to boost its Bitcoin holdings, which play a crucial role in Samara’s financial strategy.
Patrick Lowry, the CEO, expressed his excitement for the issuance, stating, “We are eagerly looking forward to launching this bond and using the funds to acquire more Bitcoin and support exceptional emerging managers. This initiative will enhance our already strong balance sheet and enable us to diversify into next-gen technologies through new fund investments. By treating Bitcoin as our main treasury asset, we are also in a better liquidity position with these bond proceeds.”
Christian Angermayer, part of Samara’s Advisory Committee, commented, “Our goal at Samara is to propel humanity forward through innovation by supporting the best managers and builders. We’re thrilled to have this additional capital to invest in creators of tomorrow’s groundbreaking technologies and expand our Bitcoin holdings.”
Germany’s Equivalent to MicroStrategy
On X (formerly Twitter), Patrick Lowry shared the company’s vision of investing in cutting-edge technologies and enhancing its Bitcoin treasury via the bond offering. He reiterated Samara’s intention to hold Bitcoin for the long term, believing in technology’s potential to benefit humanity.
“At Samara AG, we’re launching bonds for up to €30 million to invest in innovative technologies through top-tier managers and increase our Bitcoin treasury! We are committed HODL’ers and believe in technology’s ability to propel humanity forward!” he noted.
In a follow-up on X, Lowry stated: “At Samara AG, we’ve held onto Bitcoin for years, and now we’re increasing our Bitcoin reserves while investing in disruptive tech through leading managers and builders. It might be a stretch, but it would be incredible to acquire as much as @saylor.”
When questioned about the obstacles around European corporate bond offerings, Lowry mentioned this is Samara AG’s first bond issuance and a groundbreaking type in Europe. “I’ll keep everyone updated based on feedback in the upcoming weeks,” he added.
At the time of this report, Bitcoin was priced at $64,922.