ConvertibleActive
4% Convertible Notes due 2030
BTBT-Oct30
$2.02▼ 0.49%
BTC Holdings
1.2 BTC
Total Debt
$200.00M
Leverage
136662.6%
mNAV
7594.84x
Outstanding
$150.00M
Issue date
2025-10-02
Principal
$150.00M
Coupon
4.00%
Maturity
2030-10-01
Conversion price
$4.16
ITM Status
OTM (-51.4%)
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Apr 1, Oct 1
- Rate type
- Fixed
- Forced conversion
- On or after Oct 6 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Call provision
- Redeemable for cash on or after Oct 6 2028, subject to 130% stock price condition
- Put provision
- Holders may require repurchase at par + accrued on Oct 1 2028
- Use of proceeds
- ETH purchase and general corporate purposes
Participants
Holders & Underwriters(3)
- Form 8-K (convertible not…Barclays Capital Inc.underwriter$150Mas of 2025-10-02
- Form 8-K (convertible not…Cantor Fitzgerald & Co.underwriter$150Mas of 2025-10-02
- Form 8-K (convertible not…B. Riley Securities, Inc.underwriter$150Mas of 2025-10-02
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | — | $150.00M |
| 2025-12-31 | — | $150.00M |
| 2025-10-02 | Issuance | $150.00M |
- 2026-03-31 — $150,000,000Note 12 — Debt
- 2025-12-31 — $150,000,000Note 12 — Convertible Notes
- 2025-10-02 — $150,000,000Item 2.03