ConvertibleExpiredBTC
0% Convertible Notes due 2030
CPTLB-B02A
€0.61▲ 2.38%
BTC Holdings
2,943 BTC
Total Debt
€102.08M
Leverage
49.8%
mNAV
0.83x
Outstanding
€0.00
Issue date
2025-05-12
Principal
€12.15M
Coupon
0.00%
Maturity
2030-05-12
Conversion price
€0.71
ITM Status
OTM (-13.6%)
- Effectively Bitcoin denominated
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)
- B-02 Tranche A Convertibl…Adam Backholder€12.1Mas of 2025-05-12
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-06-30 | — | €0.00 |
| 2025-05-12 | Issuance | €12.15M |
- 2025-06-30 — €0Page 61
- 2025-05-12 — €12,146,942