Africa Bitcoin Corporation is handing a 4% stake in the company to a newly appointed financial adviser as part of a deal to secure strategic and investment banking support.
In a financial disclosure published on Monday, the company said it has appointed US-based investment bank Maxim Group as its adviser.
Maxim will provide Africa Bitcoin with general financial advisory and investment banking services, including strategic support, advice on capital structure and financing options, assistance with investor communications and introductions, and help broadening the company’s shareholder base.
As consideration for these services, Africa Bitcoin Corporation will issue Maxim, or its nominees, up to 454 744 ordinary shares – representing 4% of the company’s issued share capital – at an issue price of R11/share.
Rather than being issued upfront, the shares will be delivered in four tranches over the course of the agreement. An initial 75 033 shares will be issued on signature of the deal or shortly thereafter, followed by 76 169 shares on 30 April 2026. Two further tranches of 151 771 shares each are scheduled for issue on 1 August 2026 and 1 November 2026, subject to the terms of the agreement.
The shares will be issued under Africa Bitcoin’s existing general authority to issue shares for cash, which was approved by shareholders at the company’s AGM in July 2025.
Bitcoin treasury
The deal effectively compensates the adviser entirely in equity, diluting existing shareholders by 4% if all the shares are issued under the agreement.
Africa Bitcoin Corporation has styled itself as a bitcoin treasury company, mirroring similar approaches taken by the like of Strategy in the US, though at a much smaller scale.
Until late 2025, Africa Bitcoin Corporation was known as Altvest Capital, a Johannesburg-listed investment holding company focused on financial services and funding solutions for small and medium-sized enterprises.
Read: Africa Bitcoin Corporation names Saifedean Ammous as strategic advisor
In September 2025, Altvest’s board unveiled a strategic pivot, formally changing its name to Africa Bitcoin Corporation as it embraced a corporate treasury strategy anchored in bitcoin. The company became the first publicly listed African entity to adopt bitcoin as a long-term reserve asset, signalling a major shift from purely SME financing towards digital asset innovation and positioning itself alongside global peers using bitcoin as a corporate balance-sheet hedge. – © 2026 NewsCentral Media
Get breaking news from TechCentral on WhatsApp. Sign up here.