German publicly traded asset management firm Samara Asset Group (AG) revealed on Monday that it plans to raise about $32.8 million (€30 million) to boost its investment portfolio by acquiring more limited partnership (LP) stakes and purchasing more bitcoins.
$32.8 Million Nordic Bond
According to its latest announcement, Samara has partnered with Pareto Securities, a renowned investment bank in the Nordic capital markets, to serve as its Sole Manager and arrange fixed-income investor meetings. The goal is to issue a $32.8 million senior-secured Nordic bond.
While Samara AG will issue the Bond, the asset manager has established Samara Asset Holdings Ltd, a new special-purpose vehicle (SPV) that will pledge to act as a guarantor for the Bond.
Samara’s latest Bond will be listed on the Oslo Stock Exchange (Oslo Børs) and Frankfurt Stock Exchange (Frankfurter Wertpapierbörse), with a minimum subscription of $109,000 (€100,000).
Samara Plans Bitcoin Shopping
According to the German firm, it plans to use proceeds from the Bond to increase its bitcoin stack.
“We are excited by the prospect of placing this Bond and look forward to using the proceeds to acquire more Bitcoin and continue to seed the world’s best-emerging managers,” said Patrick Lowry, Samara CEO.
Moreover, many Samara executives have expressed optimism about its latest move, seeing it as an effective way to solidify its balance sheet while exploring newer technological advancements.
Christian Angermayer, a member of Samara’s Advisory Committee, commented, “With this new dry powder, we are excited to invest in and partner with the builders of tomorrow’s most disruptive technologies and grow our Bitcoin position.”
Samara Adopts MicroStrategy’s Blueprint
With its latest move, Samara has joined the list of companies that have openly adopted Bitcoin as its primary treasury reserve asset, following the footsteps of American business intelligence firm MicroStrategy.
MicroStrategy has spearheaded institutional Bitcoin investment since 2020. Currently, it holds about 252,220 BTC worth more than $16 billion.
Moreover, its Bitcoin billionaire chairman, Michael Saylor, envisions MicroStrategy becoming the world’s leading Bitcoin bank if the crypto jumps as high as $1 million per BTC.
Meanwhile, Samara’s Lowry has followed Saylor’s example by promoting Bitcoin through his social media platforms, identifying Samara as a “forever bitcoin hodling company.”
