Blue Star Capital converts loans notes in SatoshiPay to equity

Blue Star Capital said it had maintained its shareholding in fintech group SatoshiPay after converting loan notes in the company into equity.

SatoshiPay had just completed a private fundraise, raising around £830k at a valuation of £15.0m.

The valuation of SatoshiPay used to determine the conversion price of the loan note was £15.0m, based on the valuation of both the fundraise announced on 26 July 2018, and the current SatoshiPay fundraise.

'The SatoshiPay private fundraise has secured support from experienced blockchain and fintech investors,' chief executive Tony Fabrizi said.

'Following the announcement last week regarding the partnership with Axel Springer and having now secured sufficient cash for its immediate needs we are confident SatoshiPay is well set for an exciting year.'

At 2:44pm: (LON:BLU) Blue Star Capital PLC share price was +0.01p at 0.16p