ConvertibleActiveBTC
0% Convertible Notes due 2030
CPTLB-A05
€0.53▲ 0.87%
BTC Holdings
3,135 BTC
Total Debt
€73.41M
Leverage
35.3%
mNAV
0.81x
Outstanding
€6.50M
Issue date
2025-07-31
Principal
€6.50M
Coupon
0.00%
Maturity
2030-07-31
Conversion price
€1.83
ITM Status
OTM (-70.8%)
- Conversion price halved from €3.656 to €1.83 on 2026-03-17; conversion now also grants 1 BSA OC warrant per OCA
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Unsecured
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- On or after 3rd anniversary of issuance, issuer may convert if VWAP over 20 consecutive trading days >= 130% of conversion price
- Use of proceeds
- 95% to acquire and hold Bitcoin; 5% for operational expenses and management fees
Participants
Holders & Underwriters(1)
- A-05 Convertible Bond Iss…TOBAMholder€6.5Mas of 2025-08-04
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-08-04 | — | €6.50M |
| 2025-07-31 | Issuance | €6.50M |
- 2025-08-04 — €6,500,000Page 61
- 2025-07-31 — €6,500,000