ConvertibleActiveBTC
11.75% Convertible Notes due 2028
LVO-May28
BTC Holdings
43 BTC
Total Debt
$24.96M
Leverage
266.4%
mNAV
18.32x
Outstanding
$16.77M
Insufficient history
Issue date
2025-05-19
Principal
$16.77M
Coupon
11.75%
Maturity
2028-05-19
Conversion price
$21
- OID: purchased at $15.25M for $16.775M face value
- Additional Debentures of up to $11M available if VWAP >= $42.00 for 30 days or FCF >= $3M for 3 quarters within 15 months of closing
- Purchasers have security interest in any purchased crypto assets
- Conversion price adjusted from $2.10 to $21.00 after 1:10 reverse split Sep 26, 2025
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior secured
- Settlement
- Shares
- Payment frequency
- Monthly
- Rate type
- Fixed
- Call provision
- After May 19, 2026: prepay all at par + accrued interest + premium (5% if before May 2027, 4% if after)
- Put provision
- Monthly holder redemptions: $100K/mo from Aug 2025, $150K from Nov 2025, $250K from May 2026, $300K from May 2027
- Use of proceeds
- Digital asset treasury strategy and general corporate purposes
Sources(2)
- Form 8-K (OID convertible…FilingForm 8-K (OID convertible debentures issuance)Item 1.01LiveOne, Inc. — 2025-05-23
- Form 8-K (convertible deb…FilingForm 8-K (convertible debentures crypto amendment)Item 1.01crypto amendmentLiveOne, Inc. — 2025-08-11
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-05-19 | Issuance | $16.77M | Form 8-K (OID convertible… |
- 2025-05-19 — $16,775,000Item 1.01 — filing — LiveOne, Inc.Source