ConvertibleActiveBTC
8% Convertible Notes due 2028
LGHL-Dec28
$0.83▲ 4.70%
BTC Holdings
88 BTC
Total Debt
$27.18M
Leverage
99.9%
mNAV
0.47x
Outstanding
$10.40M
Issue date
2025-12-03
Principal
$10.40M
Coupon
8.00%
Maturity
2028-12-03
Conversion price
—
- Conversion price: lesser of $2.80 (current ADS terms, post Nov-26-2025 ratio change) or 90% of lowest 10-day VWAP, floor $0.60. 12% interest rate if paid in ADSs at issuer election. 4% original investor discount. Buyer entitled to 50% of Crypto Rewards (staking returns) under Amendment No. 1.
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior secured (first priority on Company and subsidiaries assets and Tokens)
- Settlement
- Shares
- Use of proceeds
- Net proceeds of $9,716,820, of which $8,000,000 used to purchase Tokens
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-12-31 | Issuance | $10.40M First standalone year-end balance for December 2025 Secured Convertible Debenture per 20-F |
| 2025-12-03 | Issuance | $10.40M |
- 2025-12-31 — $10,400,000Note 11 - Convertible Debentures (borrowings table)
- 2025-12-03 — $10,400,000