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The latest update is out from Blue Star Capital ( (GB:BLU) ).
Blue Star Capital has restructured its £1m secured loan to blockchain payments investee SatoshiPay by converting a total of €543,634 of outstanding debt into two Simple Agreements for Future Equity, with valuation caps of €3.5m and €2.5m respectively. On full conversion at these caps, Blue Star expects its stake in SatoshiPay to rise from about 50% to at least 58%, while also securing an option to invest up to a further €500,000 in equity at a €10m pre-money valuation.
In parallel, SatoshiPay will make a €115,000 cash repayment, after which the loan will be deemed fully repaid and associated security released, leaving Blue Star with sufficient working capital until the end of 2026. The move removes the need for additional fundraisings this year, gives SatoshiPay greater flexibility to use its treasury for Vortex-related and working capital needs, and strengthens Blue Star’s strategic position in a key blockchain asset without immediate dilution at the SatoshiPay level.
More about Blue Star Capital
Blue Star Capital is an AIM-quoted investing company focused on new technologies, particularly blockchain, payments and esports. Its portfolio includes SatoshiPay, a blockchain payments specialist; Dynasty Media & Gaming, a B2B full-stack gaming ecosystem provider; and Paidia, a female-focused gaming platform.
Average Trading Volume: 223,155
Technical Sentiment Signal: Strong Sell
Current Market Cap: £4.4M
Learn more about BLU stock on TipRanks’ Stock Analysis page.