ConvertibleExpiredBTC
5% Convertible Notes due 2026
LBTC-May26
0.03 GBP▲ 2.00%
BTC Holdings
80.26 BTC
Total Debt
£0.00
Leverage
0.0%
mNAV
1.92x
Outstanding
$0.00
Issue date
2025-05-14
Principal
$2.00M
Coupon
5.00%
Maturity
2026-05-14
Conversion price
£0.25
ITM Status
OTM (-89.8%)
- Variable conversion: lower of 25p or 95% of lowest 10-day VWAP
- Only $2M drawn from $4M facility; settled Jun 2025 via share transfer
Terms & Documentation
Terms
- BTC strategy
- Yes
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Use of proceeds
- BTC acquisition and potential Nasdaq dual listing
Participants
Holders & Underwriters(1)
- $4M Convertible Bridge Fu…Dominari Securities LLCunderwriter£2Mas of 2025-05-14Placement agent
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-06-30 | Repayment | $0.00 Settled via director share transfer |
| 2025-05-14 | Issuance | $2.00M |
- 2025-06-30 — $0
- 2025-05-14 — $2,000,000