ConvertibleActiveBTC
8% Convertible Notes due 2029
BTCW-Dec29
0.04 CAD▲ 0.00%
BTC Holdings
204 BTC
Total Debt
C$35.39M
Leverage
159.5%
mNAV
0.70x
Outstanding
C$2.00M
Issue date
2024-12-30
Principal
C$2.00M
Coupon
8.00%
Maturity
2029-12-30
Conversion price
C$0.23
ITM Status
OTM (-82.6%)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Unsecured, subordinated to all secured indebtedness
- Settlement
- Shares
- Payment frequency
- Semi-annual
- Payment dates
- Jan 1, Jul 1
- Rate type
- Fixed
- Forced conversion
- If VWAP > C$0.32 for 10 consecutive trading days (after 4 months + 1 day from Dec 30, 2024 closing)
- Use of proceeds
- Working capital, general corporate purposes, and strategic bitcoin reserve
Participants
Holders & Underwriters(1)
- $2M Convertible Debenture…Haywood Securities Inc.underwriterC$2Mas of 2024-12-30Lead agent and sole bookrunner
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | — | C$2.00M Of $2M principal, BTR holds $900K (45%); Jan 2026 PIK satisfied via 739,449 shares at $0.109 |
| 2024-12-30 | Issuance | C$2.00M |
- 2026-03-31 — C$2,000,000Note 7 - Convertible Debt (Debentures C)
- 2024-12-30 — C$2,000,000