ConvertibleActive
8% Convertible Notes due 2029
HUT-Jun29
$124.83▲ 0.47%
BTC Holdings
16,332 BTC
Total Debt
$3.65B
Leverage
291.1%
mNAV
11.72x
Outstanding
$159.28M
Issue date
2024-06-28
Principal
$150.00M
Coupon
8.00%
Maturity
2029-06-28
Conversion price
$16.4
ITM Status
ITM (+661.4%)
- Interest may be PIK or paid in cash, at issuer's option
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Shares
- Payment frequency
- Quarterly
- Payment dates
- Mar 31, Jun 30, Sep 30, Dec 31
- Rate type
- Fixed
- Forced conversion
- On or after June 28, 2026 (two-year anniversary), redeemable at 100% of Accreted Principal if closing price >= 150% of conversion price for a specified period, subject to daily volume-based redemption limit; requires effective resale registration statement or Rule 144 eligibility
- Put provision
- Upon change of control or U.S. stock exchange delisting, holder may require repurchase of entire Note at 150% of original principal if implied valuation >= $11.50/share, otherwise at Accreted Principal Amount plus accrued interest
- Use of proceeds
- Growth capital expenditures and general corporate purposes
Participants
Holders & Underwriters(1)
- Form 8-K (Coatue converti…Coatue Management, L.L.C.holder$150Mas of 2024-07-01Sole investor via private placement
Outstanding History
Outstanding history(4)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | — | $159.28M Inclusive of PIK interest accrued |
| 2025-12-31 | — | $159.28M Includes accrued PIK interest |
| 2025-09-30 | — | $159.28M Includes accrued PIK interest |
| 2024-06-28 | Issuance | $150.00M |
- 2026-03-31 — $159,285,000Note 9 — Loans, notes payable, and other financial liabilities
- 2025-12-31 — $159,285,000Note 15 — Coatue Note
- 2025-09-30 — $159,285,000Note 11. Loans, notes payable, and other financial liabilities
- 2024-06-28 — $150,000,000