French bitcoin treasury company Capital B has approved a 10-for-1 reverse stock split, a move designed to broaden its investor base while preserving total shareholder value. The board authorized the split on July 17 following shareholder approval at the June 17 annual meeting.
Under the plan, every 10 existing ordinary shares will be exchanged for one new ordinary share. Management emphasized that this is a technical adjustment that will not alter the total value of investors' holdings; each new share will simply represent a proportionally larger ownership stake.
The reverse stock split period runs from August 6 through September 7, 2026. On September 8, existing shares will be automatically exchanged for new shares for shareholders whose holdings are already multiples of 10. Those with holdings not divisible by 10 have until September 7 to adjust their positions by buying or selling shares. Fractional shares remaining will be compensated in cash, with payments scheduled to begin on September 14. Financial intermediaries will sell aggregated fractional interests on the market and distribute proceeds to affected shareholders.
Trading of the existing shares on Euronext Growth Paris will cease on September 7. The new consolidated shares will begin trading on September 8 under a new ISIN code, with settlement and delivery set for September 10. Shareholders of record on September 9 will receive the new shares.
To comply with French legal requirements on minimum nominal share values after a reverse split, Capital B raised the nominal value of each existing share from €0.04 to €0.08 by capitalizing over €12 million in share premium. Post-consolidation, each new share will have a nominal value of €0.80. The company had 300,650,632 ordinary shares eligible, which will be reduced to 30,065,063 after the split. Two treasury shares were waived from consolidation to keep the total divisible by 10.
