StackBTC Pursues Acquisition of Gold Trading Firm for Up to $16 Million

StackBTC (STAK), a UK-based Bitcoin finance firm backed by Nigel Partridge, is pursuing the acquisition of gold trading company Direct Bullion for up to £12 million (£1.2 million or approximately $16 million) in a deal involving cash, new shares, and conditional payments.

The company announced on April 15 that it had signed a non-binding term sheet for the acquisition, with the purchase price consisting of £3 million in cash, approximately £4 million in new shares at a minimum of 6 pence per share, and an additional £5 million in contingent payments. StackBTC also disclosed that Direct Bullion reported revenue of £52.1 million and post-tax profit of £2.15 million as of January 31, 2026.

The transaction qualifies as a related-party deal since Paul Witheridge, a StackBTC director and major shareholder, serves as an officer and seller entity shareholder at Direct Bullion. The acquisition requires due diligence, final contract signing, AQSE approval, and corporate approvals before completion, with the company noting that closure is not guaranteed.