ConvertibleActive
4.875% Convertible Notes due 2031
BTDR-Jul31
BTC Holdings
51 BTC
Total Debt
$1.14B
Leverage
27349.5%
mNAV
726.53x
Outstanding
$330.00M
Insufficient history
Issue date
2025-06-23
Principal
$330.00M
Coupon
4.88%
Maturity
2031-07-01
Conversion price
$15.88
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Jan 1, Jul 1
- Rate type
- Fixed
- Forced conversion
- On or after Jul 6 2028 if stock >= 140% of conversion price for 20 of 30 consecutive trading days
- Call provision
- Redeemable at 100% of principal if less than $25M remains outstanding; tax redemption upon certain tax law changes
- Put provision
- Holders may require repurchase on Jul 6 2029 or upon fundamental change at 100% of principal
- Use of proceeds
- Zero-strike call option, note exchange of 8.50% notes, datacenter expansion, ASIC mining rig development, working capital
- Capped call
- Zero-strike call option for ~$129.6M covering ~10.2M shares
Sources(1)
- $330M 4.875% Convertible …Press Release$330M 4.875% Convertible Senior Notes due 2031Bitdeer Technologies Group — 2025-06-18
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-06-23 | Issuance | $330.00M | $330M 4.875% Convertible … |
- 2025-06-23 — $330,000,000press_release — Bitdeer Technologies GroupSource