ConvertibleActiveBTC
8% Convertible Notes due 2027
MATA-Dec27
0.04 CAD▲ 0.00%
BTC Holdings
175.6 BTC
Total Debt
C$14.49M
Leverage
81.4%
mNAV
0.23x
Outstanding
$10.50M
Insufficient history
Issue date
2025-11-10
Principal
$10.50M
Coupon
8.00%
Maturity
2027-12-07
Conversion price
C$0.53
ITM Status
OTM (-93.4%)
- Secured by Bitcoin equal to 150% of principal (initial closing) or 100% (subsequent closings)
- Feb 2026 amendment: alternate conversion price changed to lowest 10-day VWAP preceding conversion notice
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior secured
- Settlement
- Shares
- Rate type
- Step-up
- Rate reference
- 8% initial; 5% upon NASDAQ/NYSE uplisting; 18% upon event of default
- Put provision
- Holders may require cash redemption of all amounts owing upon event of default
- Use of proceeds
- Exclusively to purchase Bitcoin for balance sheet
Participants
Holders & Underwriters(2)
- Closing of Convertible No…Joseph Gunnar & Co., LLCunderwriteras of 2025-11-10Placement agent
- Closing of Convertible No…ATW PartnersholderC$10.5Mas of 2025-11-10
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2025-11-10 | Issuance | $10.50M |
- 2025-11-10 — $10,500,000