Latham Advises Satsuma Technology on Proposed ESCC Listing, Expected to Be First Company With a Bitcoin Treasury Strategy Listed on the ESCC Category

Latham & Watkins has advised Satsuma Technology, which is expected to be the first company with a Bitcoin treasury strategy to be listed on the ESCC category, in relation to the proposed admission of its ordinary shares to the Equity Shares (Commercial Companies) Category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange. The Prospectus was approved by the FCA on December 17, 2025.

Satsuma is a public company pioneering the convergence of decentralized AI and Bitcoin treasury management, and aims to develop and scale robust, revenue-generating, Bitcoin-adjacent operational business lines that will help fund its Bitcoin treasury differentiating it from other companies operating one-dimensional treasury strategies.

The Latham team was led by partners Mark Austin, Shing Lo, Stuart Davis, and Haim Zaltzman, with counsel Koushik K. Prasad, and associates Isabelle Knapton and Sam Maxson.