ConvertibleActive
10% Convertible Notes due 2026
HAMA-Jul26-Vela
0.01 GBP▲ 0.00%
BTC Holdings
26 BTC
Total Debt
£2.80M
Leverage
35.8%
mNAV
2.70x
Outstanding
£300.00K
2024-07-16
Issue date
2024-07-16
Principal
£300.00K
Coupon
10.00%
Maturity
2026-07-17
Conversion price
£0.03
ITM Status
OTM (-75.0%)
- Variable conversion: lower of £0.03 cap or 25% discount to 5-day VWAP immediately prior to conversion
- 6-month lock-in from issue; conversion notice may be issued by Vela between 6 months and maturity
- Issued in exchange for 2,424,242,424 Vela ordinary shares (subsequently sold for £128k in 2024)
Analytics
ITM History
Stock price vs conversion price (£0.03)OTM -75.0%
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Unsecured
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Use of proceeds
- Cross-investment with Vela Technologies (received 2.4bn Vela shares as consideration)
Participants
Holders & Underwriters(1)
- Annual Report 2025Vela Technologies plcholder£300Kas of 2024-07-16Cross-investment: Vela received 2,424,242,424 Hamak shares in Vela in return
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2024-07-16 | Issuance | £300.00K |
- 2024-07-16 — £300,000Note 18 — Convertible loan and embedded derivative financial liability