PreferredExpired
Series A Convertible Preferred Shares
CAN-SrA
$0.54▲ 4.33%
BTC Holdings
1,808 BTC
Total Debt
$52.20M
Leverage
0.0%
mNAV
2.86x
Notional
$0.00
Issue date
2023-12-11
Price
$1,000.00
Insufficient history
Coupon
0.00%
Eff. Yield
—
Insufficient history
Mkt Cap
$0.00
Insufficient history
Shares Outs.
0
- Three tranches: T1 $25M (Dec 2023), T2 $50M (Jan 2024), T3 $50M (Sep 2024)
- Conversion price: 120% of VWAP for T1/T2; fixed $4.00/ADS for T3
- T3 adds 90-day average SOFR to conversion amount
- 1 ADS = 15 Class A ordinary shares
Terms & Documentation
Terms
- BTC strategy
- No
- Settlement
- Shares
- Liquidation preference
- Greater of Conversion Amount ($1,072.80/share) or as-converted equity value at liquidation
- Cumulative
- No
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Put provision
- Redemption at 105% of Conversion Amount on Maturity Date (12 months after issuance, extendable at Buyer option)
- Use of proceeds
- Research and development, expansion of production scale, and other general corporate purposes
Outstanding History
Outstanding history(2)
| As of | Shares Outstanding |
|---|---|
| 2025-12-31 | 0 |
| 2024-09-27 | 125,000 |
- 2025-12-31 — 0 sharesQ4 & Full Year 2025 Finan…
- 2024-09-27 — 125,000 sharesThird Tranche of Series A…