ConvertibleActive
9.9% Convertible Notes due 2026
NBX-Nov26
0.64 NOK▲ 8.98%
BTC Holdings
19.2 BTC
Total Debt
33.05M NOK
Leverage
247.9%
mNAV
13.36x
Outstanding
33.05M NOK
Issue date
2022-10-20
Principal
41.00M NOK
Coupon
9.90%
Maturity
2026-11-30
Conversion price
0.6 NOK
ITM Status
ITM (+7.2%)
- Pool of bilateral convertible loans from multiple investors; first issued Oct 2022, extended Oct 2023 to NOK 41M total
- Interest rate history: 8% (issuance) → 15% → 9.9% (effective Mar 31, 2025)
- Jun 2025 partial conversion at NOK 0.27/share (differs from stated NOK 0.60 conversion price)
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Shares
- Rate type
- Fixed
- Use of proceeds
- Finance operations and cover collateral for NBX Visa credit card
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding |
|---|---|---|
| 2025-06-23 | Conversion | 33.05M NOK NOK 7.95M (incl. accrued interest) converted to 29,454,296 shares at NOK 0.27/share |
| 2023-10-23 | Issuance | 41.00M NOK Total pool after extension/refinancing |
| 2022-10-20 | Issuance | 41.00M NOK |
- 2025-06-23 — 33,050,000 NOK
- 2023-10-23 — 41,000,000 NOK
- 2022-10-20 — 41,000,000 NOK