BTC AB offers redemption of B shares for up to SEK 5 million at a 28 percent discount to net asset value
The board of B Treasury Capital AB ("BTC AB") has resolved to offer all holders of B shares voluntary redemption at net asset value per B share less 28 percent. The application period is 18 to 24 September 2026. Full information and questions and answers will be available at btc.se/redemption before the application period opens.
In brief
- Voluntary. Those who do not wish to participate need not take any action.
- Open to all holders of B shares on the record date, 16 September 2026. Last day to buy with the right to participate is 14 September.
- Price: net asset value per B share at 17.30 on 25 September 2026, less 28 percent. Approximately SEK 107 per share based on net asset value as of 10 September.
- Cap: SEK 5 million, funded from existing cash. No Bitcoin will be sold.
- Application period 18 to 24 September. Payment expected 7 October.
Why
When the company redeems shares below net asset value, the number of Bitcoin per remaining share increases. If the company pays SEK 100 for shares representing SEK 139 in net assets, the difference stays with the shareholders who remain.
Timetable
| 14 September | Last day to buy B shares with the right to participate |
| 16 September | Record date |
| 18 September | Redemption rights booked into your account. Application period begins |
| 24 September | Last application day. Banks close earlier |
| 25 September | Price set at 17.30. Press release with price and outcome the same evening |
| 29 September | Redeemed shares booked out of your account |
| 7 October | Payment (expected) |
How it works
- You receive one redemption right per B share. One right allows you to redeem one B share. The rights are not tradable.
- Apply through your bank during the application period. Directly registered shareholders use the application form provided by Aqurat Fondkommission, available at btc.se/redemption as of 18 September. Applications are binding.
- The price is set after the application period. You know the discount when you apply, not the exact price in SEK.
- If applications exceed SEK 5 million, redemption is allocated pro rata.
- Payment is made via Euroclear Sweden to your bank.
How the price is calculated
Net asset value per B share = (Bitcoin times Bitcoin price in SEK, plus cash, less the preference shares' entitlement of SEK 120 per share plus accrued dividend) divided by the number of B shares. The company has no debt.
Redemption price = net asset value per B share at 17.30 on 25 September, less 28 percent.
As of 10 September: Bitcoin per B share approximately SEK 164, net asset value per B share approximately SEK 149, redemption price at 28 percent discount approximately SEK 107. The price follows the Bitcoin price until 17.30 on 25 September. Updated daily at btc.se/redemption during the application period.
The discount applies to net asset value after deduction of the preference shares. The Market Cap to Bitcoin NAV metric on btc.se does not deduct the preference shares.
Other information
Class A shares, Class C shares and preference shares are not covered by the offer. Aqurat Fondkommission AB is issuing agent. Participation may have tax consequences. The company does not provide tax advice.
This information is information that BTC AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.30 CEST on 11 September 2026.
For further information, please contact:
Christoffer De Geer, CEO, hello@btc.se
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