ConvertibleActive
5% Convertible Notes due 2032
BTDR-Mar32
$17.49▼ 4.84%
BTC Holdings
73 BTC
Total Debt
$1.17B
Leverage
16173.2%
mNAV
793.57x
Outstanding
$325.00M
Insufficient history
Issue date
2026-02-24
Principal
$325.00M
Coupon
5.00%
Maturity
2032-03-01
Conversion price
$9.93
ITM Status
ITM (+76.1%)
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Mar 1, Sep 1
- Rate type
- Fixed
- Forced conversion
- On or after Mar 6 2030 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Call provision
- Redeemable at 100% of principal if less than $50M remains outstanding; tax redemption upon certain tax law changes
- Put provision
- Holders may require repurchase on Mar 6 2030 or upon fundamental change at 100% of principal
- Use of proceeds
- Capped call transactions, repurchase of 5.25% notes due 2029, datacenter expansion, HPC/AI cloud, ASIC mining development, general corporate purposes
- Capped call
- Cap price $15.88/share (100% premium over RDO price), ~$29.2M cost
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2026-02-24 | Issuance | $325.00M |
- 2026-02-24 — $325,000,000