PreferredActive$BMNPBTC
9.50% Series A Perpetual Preferred Stock
$16.52▲ 5.63%
BTC Holdings
204 BTC
Total Debt
$350.00M
Leverage
0.0%
mNAV
685.29x
Notional
$350.00M
2026-06-10
Issue date
2026-06-10
Price
$100.00
Insufficient history
Dividend / Share
$9.5/yr
Eff. Yield
9.50%
Insufficient history
Mkt Cap
$350.00M
Insufficient history
Shares Outs.
3,500,000
2026-06-10
Terms & Documentation
Terms
- BTC strategy
- Yes
- Liquidation preference
- $100 per share initially; adjusts daily to greatest of: stated amount, last sale price if traded in prior 10 days, 10-day trailing average sale price; floor $100
- Cumulative
- Yes
- Payment frequency
- weekly
- Rate type
- Fixed
- Call provision
- Redeemable at the Company option for cash: 110% of stated amount from issue date to 18 months, 105% from 18 months to 3 years, 100% after 3 years, plus accrued dividends. Clean-up call when less than 25% remains outstanding; tax-event call.
- Put provision
- On a fundamental change, holders may require repurchase at the stated amount plus accumulated and unpaid dividends.
- Use of proceeds
- General corporate purposes, which may include acquisition of additional ETH and other digital assets, expansion of staking and validator infrastructure (MAVAN), working capital, strategic investments, and/or repurchases of common stock.
Participants
Holders & Underwriters(2)
- Form 424B5 ($280M 9.50% S…Moelis & Company LLCunderwriteras of 2026-06-10
- Form 424B5 ($280M 9.50% S…Cantor Fitzgerald & Co.underwriteras of 2026-06-10
Outstanding History
Outstanding history(1)
| As of | Shares Outstanding |
|---|---|
| 2026-06-10 | 3,500,000 |
- 2026-06-10 — 3,500,000 sharesForm 8-K (Series A Perpet…