ConvertibleActiveBTC
0% Convertible Notes due 2030
CPTLB-B01
€0.53▲ 0.87%
BTC Holdings
3,135 BTC
Total Debt
€73.41M
Leverage
35.3%
mNAV
0.81x
Outstanding
177.44 BTC
Issue date
2025-03-06
Principal
607.31 BTC
Coupon
0.00%
Maturity
2030-03-06
Conversion price
€0.54
ITM Status
OTM (-1.7%)
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(6)
- OCA B-01 conversion by Bl…Blockstream Capital Holdingsholder€14.2Mas of 2026-03-30
- OCA B-01 conversion by Bl…UTXO Management (210k Capital, LP)holder€0as of 2026-03-30Fully converted
- B-01 & A-01 Convertible B…Fulgur Venturesholder€36Mas of 2025-03-06
- B-01 & A-01 Convertible B…Adam Backholder€8Mas of 2025-03-06
- B-01 & A-01 Convertible B…UTXO Management (210k Capital, LP)holder€2Mas of 2025-03-06Actual subscribed amount per capitalb-pr-mar-2026d (announced 2,000,000); UTXO converted 2,020,372 OCA = all UTXO holdings
- B-01 & A-01 Convertible B…Ludovic Chechin-Lauransholder€1.6Mas of 2025-03-06
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-30 | Conversion | 177.44 BTC Blockstream converted 17,897,600 OCA; UTXO Management converted 2,020,372 OCA (all UTXO holdings) |
| 2025-06-30 | — | 446.59 BTC |
| 2025-03-06 | Issuance | 607.31 BTC |
- 2026-03-30 — 177 BTC
- 2025-06-30 — 447 BTCPage 61
- 2025-03-06 — 607 BTC