ConvertibleActive
1.25% Convertible Notes due 2032
KEEL-Jan32
$5.52▲ 5.14%
BTC Holdings
2,462 BTC
Total Debt
$1.05B
Leverage
454.0%
mNAV
21.32x
Outstanding
$458.00M
2026-06-09
Issue date
2026-06-09
Principal
$458.00M
Coupon
1.25%
Maturity
2032-01-15
Conversion price
$7.41
Premium at issue
+30.9%
ITM Status
OTM (-25.5%)
Analytics
ITM History
Stock price vs conversion price ($7.41)OTM -29.1%
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Jan 15, Jul 15
- Rate type
- Fixed
- Use of proceeds
- Capped call transactions and general corporate purposes (data center development)
- Capped call
- Cap price $11.86/share (100% premium to $5.93 on Jun 4, 2026)
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2026-06-09 | Overallotment | $458.00M Full $58M initial-purchaser option exercised at closing |
- 2026-06-09 — $458,000,000Item 1.01