ConvertibleExpired
0% Convertible Notes due 2026
SONI-Mar26
0.09 CAD▲ 0.00%
BTC Holdings
3.71 BTC
Total Debt
C$507.72K
Leverage
0.0%
mNAV
13.38x
Outstanding
$0.00
Issue date
2025-09-10
Principal
$40.00M
Coupon
0.00%
Maturity
2026-03-10
Conversion price
C$4.5
Premium at issue
+378.7%
ITM Status
OTM (-98.0%)
- Non-interest-bearing; consideration contributed in-kind as 126,622,349 Sonic tokens. At maturity (or on a change of control) it is settled in Sonic tokens, not cash, unless the issuer first exercises its call-conversion option into common shares at US$4.50/share (9.99% ownership cap).
Analytics
ITM History
Stock price vs conversion price (C$4.5)OTM -98.0%
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- unsecured
- Payment frequency
- None (zero coupon)
- Call provision
- Issuer call-conversion option: may convert all or part of principal into common shares at US$4.50/share, subject to customary anti-dilution, a stock-exchange listing condition and a 9.99% beneficial-ownership cap.
- Use of proceeds
- Consideration contributed in-kind as 126,622,349 Sonic (S) tokens.
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-10 | Maturity | $0.00 Auto-zeroed at maturity |
| 2025-09-10 | Issuance | $40.00M |
- 2026-03-10 — $0
- 2025-09-10 — $40,000,000Note 11