Arcario realises $1.9 million by selling 11% in ITOAM SAS
Arcario AB (“Arcario”) has agreed to sell 21,325 shares in ITOAM SAS (“ITOAM”). the company behind LN Markets and DLC markets, for cash equivalent to $1.9 million (approx SEK 19.5 million). This reduces Arcario’s stake in ITOAM from around 13% to around 2%. The sale results in a profit of SEK 4.4 million for Arcario.
Following ITOAM’s successful closure of a $3 million funding round, it was clear that there was a significant appetite from investors to acquire even larger stakes in ITOAM. The cash realised from the sale will primarily be used to reduce Arcario’s debt.
Arcario’s CEO Torbjørn Bull Jenssen commented: “The investor demand for ITOAM is a strong vote of confidence in their forward-thinking strategies, which will further cement their position as a frontrunner in the bitcoin-native community. This sale represents an opportunity for Arcario to strengthen the liquidity of its balance sheet substantially. As communicated earlier, the purchase of Vanir Finance AS in January of 2024 helped ensure a positive operational cash flow. By now reducing Arcario’s debt we are further strengthening our financial position and building a strong foundation for the future. I am happy that we are still retaining a stake in ITOAM to be able to continue to take part in their future success.”
About Arcario
Arcario is an industrial investment company within the digital asset space, committed to shaping the future of finance as we know it. The company boasts a diversified portfolio that includes K33, a research-led digital assets brokerage, Green Data, an eco-friendly Bitcoin mining operation, and minority stakes in LN Markets, a Bitcoin exchange leveraging the Lightning Network and Finpeers, a startup democratising access to private financial markets through tokenization. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
About LN Markets
LN Markets is a leading trading platform for leveraged bitcoin and options trading, built on the innovative Bitcoin Lightning Network. This advanced technology allows instant deposits of collateral from all over the world, enabling users to enjoy fast, cost-effective transactions with minimal counterparty risk. With its user-friendly interface, LN Markets provides a seamless trading experience for individuals interested in exploring the world of digital currency derivatives.
