ConvertibleActive
8% Convertible Notes due 2026
AVX-Jun26
$0.53▼ 4.55%
BTC Holdings
21.145 BTC
Total Debt
$15.47M
Leverage
0.0%
mNAV
30.61x
Outstanding
$7.77K
Issue date
2023-11-30
Principal
$2.75M
Coupon
8.00%
Maturity
2026-06-01
Conversion price
$2,169
ITM Status
OTM (-100.0%)
- Fourth tranche of June 2022 Securities Purchase Agreement; 10% OID
- Conversion price subject to down-round adjustments
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior to all other indebtedness, other than indebtedness secured by purchase money security interests
- Settlement
- Shares
- Payment frequency
- Monthly
- Payment dates
- 1
- Rate type
- Step-up
- Rate reference
- 5% first 12 months, 6% next 12 months, 8% thereafter
- Call provision
- Company may not prepay without prior written consent of Investor; must apply approved ATM proceeds to prepay Debentures pro rata
Outstanding History
Outstanding history(4)
| As of | Event | Outstanding |
|---|---|---|
| 2025-12-31 | Conversion | $7.77K Down from $1,485,714 at Dec 2024 |
| 2024-12-31 | Conversion | $1.49M Balance after partial conversions per 10-K |
| 2023-12-31 | Issuance | $2.75M Balance as of Dec 31, 2023 per 10-K |
| 2023-11-30 | Issuance | $2.75M |
- 2025-12-31 — $7,767Note 10 — Debentures
- 2024-12-31 — $1,485,714Note 15 — Debentures
- 2023-12-31 — $2,750,000Note 15 — Debentures
- 2023-11-30 — $2,750,000