ConvertibleActive
0% Convertible Notes due 2028
1723-GM25
0.89 HKD▼ 7.29%
BTC Holdings
42 BTC
Total Debt
HK$52.38M
Leverage
70.5%
mNAV
17.61x
Outstanding
HK$52.38M
Insufficient history
Issue date
2025-10-22
Principal
HK$52.38M
Coupon
0.00%
Maturity
2028-10-22
Conversion price
HK$5
ITM Status
OTM (-82.2%)
- Issued alongside 3,272,000 Subscription Shares at HK$4.01/share (combined HK$65.50M general-mandate raise)
Terms & Documentation
Terms
- BTC strategy
- No
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Use of proceeds
- Aggregate net proceeds (~HK$64.19M, with HK$13.12M from paired Subscription Shares): HK$35.11M for regional sales channel expansion of Pre-paid Products; HK$9.82M primarily for acquisition of Pre-paid Bitcoin Cards and Bitcoins for inventory purposes; HK$19.26M for general working capital
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2025-10-22 | Issuance | HK$52.38M |
- 2025-10-22 — HK$52,377,600Management Discussion and Analysis