Capital B plans a 10-for-1 reverse stock split starting August 6, consolidating its shares before relisting on September 8. This significant restructuring will drop the total number of outstanding shares from over 300 million to approximately 30 million, while maintaining individual shareholder value.

Share Consolidation Timeline and Details

The reverse stock split will swap every 10 existing shares for one new share during a 30-day window ending September 7. The newly consolidated shares will begin trading on Euronext Growth Paris the following day. Alongside this, the par value per share will increase from €0.08 to €0.80, aligning with previous adjustments made to comply with French law.

Shareholders holding amounts not divisible by 10 must reconcile their portfolios before September 7 to avoid fractional shares being sold on the market, with cash proceeds distributed accordingly. The company emphasized that the restructuring is purely technical and will not affect the total market value of holdings.

Bitcoin Holdings and Treasury Strategy Unaffected

Despite the share restructuring, Capital B continues to build its Bitcoin treasury, currently holding 3,139 BTC. This positions it as the second-largest publicly traded corporate Bitcoin holder in Europe, following Germany's Bitcoin Group SE with 3,605 BTC. The company has steadily increased Bitcoin reserves during the first half of 2026, including 192 BTC acquired in May through fundraising efforts.

Recent shareholder approvals expanded financial flexibility, authorizing up to €5 billion in capital increases and €100 billion in credit instruments. Management remains focused on growing Bitcoin per fully diluted share rather than simply total reserves.

Impact on Convertible Bonds and Trading Suspension

Between August 17 and September 10, Capital B will pause conversions of convertible bonds and exercises of share warrants. Conversion and exercise terms will be recalibrated post-split. Trading of existing shares will halt after September 7 to prepare for the introduction of consolidated shares.

Settlement and delivery of the new shares are scheduled for September 10. The company will handle proceeds from fractional share sales resulting from the split during this period.

This information is for informational purposes and does not constitute financial advice.