INTEL: Japan Bitcoin Industry to raise $5.3 million in a share sale paid entirely in bitcoin

Japan Bitcoin Industry, a Lightning Network infrastructure company, is selling new shares worth about 800 million yen (roughly $5.3 million) and will receive the full amount in spot bitcoin. Payment is scheduled for Nov. 2.

The exact figure is 800,043,580 yen, or about $5.33 million. The shares are allotted to two investors, Pulgur GK and ANAP Lightning Capital.

Use of proceeds

The company plans to use the money to develop aurora, its payment infrastructure, and to fund hiring and research and development.

The supplied reporting does not give the number of shares, the issue price or the bitcoin amount to be delivered. It also does not say whether the investors have completed any part of the payment. The Nov. 2 date is the planned payment date, so the transaction is still in progress.