UK Bitcoin treasury company Stack BTC signed non-binding terms to acquire London precious metals dealer DB London Ltd, operating as Direct Bullion, for up to £12 million. The proposed consideration includes £3 million in cash at completion, about £4 million in new shares, and around £5 million in earn-out payments. Direct Bullion reported audited revenue of £52.1 million and after-tax profit of £2.15 million for the year ended January 31, 2026, with revenue up 288% over three years. The deal would constitute a reverse takeover and related party transaction under Aquis Growth Market rules. It remains subject to due diligence, a formal agreement, and approvals from AQSE and relevant companies. Stack BTC said it plans to use Direct Bullion’s operating cash flow to support its Bitcoin treasury strategy.