ConvertibleExpired
8% Convertible Notes due 2026
ABIT-Jan26
$0.00▼ 2.56%
BTC Holdings
9 BTC
Total Debt
$4.37M
Leverage
0.0%
mNAV
21.52x
Outstanding
$0.00
Issue date
2020-01-31
Principal
$3.00M
Coupon
8.00%
Maturity
2026-01-31
Conversion price
$0.01
ITM Status
OTM (-68.3%)
- Related party: KGPLA Holdings LLC (former director/principal shareholder entity)
- Conversion at lower of $0.012/share or 20% discount to next equity financing price or valuation cap of $70,282 / fully diluted capitalization
- Originally unsecured; amended and restated as secured obligation May 15, 2023
- Repaid in full Nov 24, 2025 ($3.036M including accrued interest)
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Secured
- Settlement
- Shares
- Rate type
- Fixed
- Call provision
- Prepayment prohibited without prior written consent of KGPLA
- Put provision
- Upon corporate transaction, holder may elect repayment equal to accrued interest plus 2x outstanding principal
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-11-24 | Repayment | $0.00 Voluntarily repaid $3.036M (principal + accrued interest) |
| 2020-01-31 | Issuance | $3.00M |
- 2025-11-24 — $0Item 1.02
- 2020-01-31 — $3,000,000Note 9 — Convertible debt, related-party