ConvertibleActive
7% Convertible Notes due 2027
IMG-Aug27
BTC Holdings
730 BTC
Total Debt
$1.60M
Leverage
3.0%
mNAV
0.01x
Outstanding
$1.60M
Insufficient history
Issue date
2026-02-13
Principal
$1.60M
Coupon
7.00%
Maturity
2027-08-12
Conversion price
$0.1
- Conversion price = 10-day VWAP with $0.10/share floor (reduced from $0.14 per Amendment No. 1, Mar 2026)
- Original $5M facility reduced to $1.6M — 2nd tranche ($3.4M) cancelled per A&R agreement dated Mar 21, 2026
- Warrants issued alongside notes at $0.57/share exercise price, 3-year term
- Conversion and warrant exercise subject to shareholder approval under Nasdaq rules
- Company delisted from Nasdaq Mar 6, 2026; now trades on OTC
Terms & Documentation
Terms
- BTC strategy
- No
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Call provision
- Prepayable at any time prior to maturity without penalty
Sources(2)
- Form 8-K (convertible not…FilingForm 8-K (convertible notes & warrants)Item 1.01CIMG Inc. — 2026-02-17
- Form 8-K (amended convert…FilingForm 8-K (amended convertible note, Q1 FY2026 results)Exhibit 10.1A&R agreement cancels 2nd tranche; Amendment No. 1 reduces floor to $0.10CIMG Inc. — 2026-03-25
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2026-02-13 | Issuance | $1.60M Initial tranche; $3.4M second tranche not yet closed | Form 8-K (convertible not… |
- 2026-02-13 — $1,600,000Item 1.01 — filing — CIMG Inc.Source