Tap Global Raises £1m to Expand Digital Asset Treasury
Tap Global secured £1m via a 100m share issue at 1p to grow its UK digital asset income strategy.
Key points
- Tap Global issued 100,000,000 new shares at 1.0 penny each to raise £1.0 million in capital.
- CEO Arsen Torosian holds 54.5% of the enlarged share capital after subscribing for 17.5 million shares.
- The company aims to build the UK’s largest income-generating digital asset treasury using its Tap Earn platform.
Tap Global Group PLC raised £1.0 million in a heavily oversubscribed capital placement. The company issued 100,000,000 new ordinary shares at a price of 1.0 penny each. This transaction significantly expands the company’s equity base and cash reserves.
Chief Executive Arsen Torosian subscribed for 17,500,000 of the new shares. He will hold 54.5% of the enlarged share capital after the deal closes. The funds target the UK’s largest income-generating digital asset treasury.
Capital Structure and Future Funding
The placement includes broker warrants for 2,000,000 additional shares to Cavendish Capital Markets. These warrants provide potential equity funding over the next five years. Admission to AIM is expected on 25 September 2026.
The total share count increases to 844,609,624 ordinary shares. This figure becomes the new basis for FCA transparency disclosures. The recapitalization strengthens the firm’s financial position in the crypto-fintech sector.
Strategic Focus on Asset Income
Tap leverages its existing Tap Earn platform to generate yield. The company currently holds US$5.6 million in income-generating digital asset deposits. This strategy differentiates the firm from pure trading platforms.
The firm serves over 400,000 customers across 25 countries. It offers trading in more than 70 cryptoassets. Services are backed by a Gibraltar DLT licence and European Mastercard approval.
Market Context and Analytics
TipRanks data shows a current market capitalization of £7.82 million. The average trading volume stands at 941,041 shares. Technical sentiment signals currently indicate a sell recommendation for the stock.
