Capital B plans 10-for-1 reverse stock split for September

Capital B has announced a 10-for-1 reverse stock split as the French Bitcoin treasury company seeks to make its shares accessible to a broader range of investors.

• Capital B will consolidate every ten existing shares into one new share beginning September 8.
• The reverse split reduces outstanding shares without directly changing the aggregate value of investor holdings.
• Capital B remains Europe's second-largest listed Bitcoin holder while further expanding its treasury financing strategy.

The Euronext Growth Paris-listed company said 10 existing shares will automatically convert into one new share. The process will reduce the number of shares covered by the consolidation from 300,650,632 to 30,065,063. The new shares will begin trading on Sept. 8, 2026.

Capital B said the transaction aims to "support the company's institutional development and to open the company's shares to a broader universe of investors." The company also stressed that the technical conversion will not directly change the aggregate value of each shareholder's holdings.

Capital B reverse stock split takes effect September 8

The reverse stock split period will begin on Aug. 6 and run through Sept. 7. Investors who own a number of shares divisible by 10 will have their holdings converted automatically. Each new share will replace 10 old shares. Its par value will stand at €0.80, compared with €0.08 for each share immediately before the consolidation.

Sept. 7 will mark the final trading day for the existing shares, while the replacement shares will start trading on Euronext Growth Paris the following day under a new ISIN. The company has set Sept. 9 as the record date and Sept. 10 for settlement and delivery.

Shareholders whose holdings are not divisible by 10 can buy or sell shares before Sept. 7 to create a whole number of new shares. Otherwise, financial intermediaries will sell the shares linked to fractional entitlements and distribute the proceeds to affected investors. Capital B expects those payments to begin from Sept. 14.

The company will also temporarily suspend conversions of certain convertible bonds and exercises of share warrants from Aug. 17 through Sept. 10. It will adjust conversion and exercise terms after the reverse stock split to account for the lower number of shares.

Bitcoin treasury strategy remains central to Capital B

The share consolidation comes as Capital B continues to build its corporate Bitcoin treasury strategy. Data from BitcoinTreasuries.net currently shows the company holding 3,139 BTC, making it the second-largest publicly listed corporate Bitcoin holder in Europe. Germany's Bitcoin Group SE ranks ahead with 3,605 BTC.

Capital B expanded its holdings during the first half of 2026 through several fundraising rounds. As previously reported by crypto.news, the company bought 192 BTC for €13 million in May after completing three capital raises. Its holdings later reached the current 3,139 BTC level.

The company has also sought greater access to capital for future purchases. In June, shareholders approved authority for up to €5 billion in capital increases and €100 billion in credit instruments. The resolutions received more than 95% support from votes cast.

Those approvals give the board financing capacity that it can use as part of the company's Bitcoin accumulation strategy. Capital B has said its approach focuses on increasing the amount of Bitcoin held per fully diluted share over time rather than measuring progress only through total BTC reserves.

Institutional investors remain a focus after financing expansion

The reverse stock split adds another step to Capital B's efforts to develop its capital-market structure. By reducing the number of shares outstanding, the company will mechanically increase the reference value of each individual share while leaving investors' proportional ownership unchanged, except where fractional entitlements require settlement.

Capital B has also been developing other products aimed at investors. As crypto.news reported, the company is working on a Bitcoin-backed credit instrument for the European market. The planned product would form another part of its financing strategy, although the company has not announced a launch date.

The company's latest share restructuring does not add Bitcoin to its balance sheet or raise new capital by itself. Instead, it changes the number and nominal value of shares through a technical consolidation. The company has linked the move directly to its goal of reaching a broader investor base.

For shareholders, the main dates begin with the reverse stock split period on Aug. 6. Existing shares stop trading after Sept. 7, while the consolidated Capital B shares are scheduled to begin trading on Sept. 8. The company's Bitcoin holdings remain at 3,139 BTC based on the latest available treasury data.

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