ConvertibleActive
0% Convertible Notes due 2028
CANG-Apr28A
$0.44▲ 2.58%
BTC Holdings
1,057.46 BTC
Total Debt
$40.60M
Leverage
0.0%
mNAV
2.33x
Outstanding
$10.00M
Insufficient history
Issue date
2026-04-01
Principal
$10.00M
Coupon
0.00%
Maturity
2028-04-01
Conversion price
$1.62
ITM Status
OTM (-72.8%)
- Conversion available only from Apr 1, 2027 (12-month lockout)
- Maturity extendable to 3 years at noteholder option
- Includes warrant for 370,370 shares at $2.70/share, exercisable immediately, expiring Apr 1, 2028
Terms & Documentation
Terms
- BTC strategy
- No
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- Redeemable at issuer option if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Change of control redemption at holder option
- Use of proceeds
- Cryptocurrency mining facilities and AI data center capital expenditures
Participants
Holders & Underwriters(1)
- Form 6-K ($10M convertibl…DL Holdings Group Limitedholder$10Mas of 2026-04-01
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2026-04-01 | Issuance | $10.00M |
- 2026-04-01 — $10,000,000Exhibit 99.3