Nasdaq-listed Reitar Logtech Holdings Ltd. is in superior talks to amass as much as $1.5 billion value of Bitcoin (BTC) as a part of a strategic treasury diversification initiative aimed toward supporting its international logistics know-how growth.
In line with the June 2 SEC submitting, the proposed transaction, involving roughly 15,000 BTC, can be executed by a share issuance settlement with a consortium of institutional and high-net-worth digital asset buyers.
The deal stays topic to regulatory approval, due diligence, and remaining documentation.
Bolstering the stability sheet
Reitar Logtech, which operates good logistics infrastructure and advisory companies throughout Asia and past, mentioned the Bitcoin acquisition program is designed to reinforce its monetary resilience by allocating a part of its treasury right into a non-correlated asset.
The corporate plans to difficulty abnormal shares calculated primarily based on the common market costs of each Bitcoin and Reitar inventory on the time of closing.
Reitar Chairman and CEO John Chan in an announcement:
“This strategic treasury diversification initiative underscores our dedication to sustaining a robust monetary basis whereas scaling our international logistics know-how platform.”
In line with Reitar, the Bitcoin holdings wouldn’t solely function a stability sheet enhancement but in addition lay groundwork for future logistics actual property and infrastructure initiatives involving digital property.
The transfer comes amid a rising pattern in corporates adopting Bitcoin as a treasury reserve asset. A number of companies have filed paperwork to start following the trail pioneered by Technique and Metaplanet following their monumental success.
The 2 pioneers proceed to build up Bitcoin at a constant price, with their newest buys totaling over 2000 BTC.
Enlargement plans
The corporate views the Bitcoin program as a transfer to extend capital flexibility for potential acquisitions in logistics automation and to help progress in high-demand areas reminiscent of Southeast Asia.
It additionally goals to make use of the initiative to construct inner digital asset infrastructure to help future hybrid real-estate and logistics ventures.
If accomplished, the transaction would mark one of many largest Bitcoin acquisitions by an Asia-based logistics firm, positioning Reitar Logtech amongst a rising checklist of publicly traded companies adopting Bitcoin as a part of their company treasury technique.
The corporate emphasised that whereas negotiations are in superior levels, no definitive settlement has been signed, and the initiative might not materialize. The corporate added that it’ll p[rovide updates “as and when applicable.”
Reitar Logtech supplies logistics options by asset administration, consultancy, building, and good warehousing companies throughout international markets.
