Vanadi Coffee SA
VANA🇪🇸Leveraged
Vanadi Coffee SA is a Spanish coffee chain listed on BME Growth that has pivoted to a Bitcoin treasury company model. Acquires BTC through proceeds from mandatory convertible obligation facilities that convert to equity upon drawdown.
BTC Holdings
213 BTC
180d
Stock PriceUpdated 15h ago
€0.03▼ 5.79%
180d
Total financing
6.73M EUR
180d
mNAV
0.45x▼ 5.68%
180d
Leverage
49.5%
180d
BTC Risk
2.81%2.0x
Sats/Share
109
180d
Mkt capFD
6.06M EUR
SharesFD
196.20M
Fiat reserve
73.63K EUR
Total reserve
13.51M EUR
Dilution
5.6%
Coverage
1527.8 yr
BTC mix
97%
Analytics
BTC Coverage
FinancialsUnverified
Spanish-GAAPQuarterlyAs of 2026-02-28
Balance Sheet
Total Assets—
Total Liabilities—
Stockholders' Equity—
Cash & Equivalents—
Total Debt—
Digital Assets—
Income Statement
Revenue€230.3K
Operating Income€-3.9M
Net Income€-4.1M
Interest Expense€116K
Cash Flow
Operating Cash Flow—
Instruments
Total
0.00 EUR
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| Total | 0.00 EUR | |||||
Top Shareholders
| Holder | % Ownership | Shares | As of | Source |
|---|---|---|---|---|
| Patblasc Software Consulting, S.L. | 17.0% | — | 2026-05-12 | OIR — Participaciones sig… |
| Vallecid, S.L. | 8.7% | — | 2026-05-12 | OIR — Participaciones sig… |
| Alpha Blue Ocean | 6.8% | — | 2026-05-12 | OIR — Participaciones sig… |
- OIR — Participaciones sig…Patblasc Software Consulting, S.L.17.0%2026-05-12
- OIR — Participaciones sig…Vallecid, S.L.8.7%2026-05-12
- OIR — Participaciones sig…Alpha Blue Ocean6.8%2026-05-12
Recent Changes
Fri, May 22, 2026
Shares Outstanding
169.1M→185.7M+16.7M(+9.9%)
+16,666,666 shares from GCFO 21 conversion of 500 Sep 2025 bonds at €0.03/share
OIR — Conversión de bonos convertibles / ejecución ampliación de capital (185.727.490 acciones)Thu, May 7, 2026
Debt OutstandingDrawVANA-Tkn26
8.0M→6.6M-1.4M(-18.1%)
18 Bit2Me Loan tranches; 202.58 BTC pledged; LTV 51.01%; tranche rates 8.42–12% annual (down from 17–18% at YE2025)
OIR — Actualización tendencias significativas a 28 de febrero de 2026Tue, Apr 14, 2026
Shares Outstanding
149.1M→169.1M+20.0M(+13.4%)
+20,000,000 shares from Patblasc conversion of 600 Sep 2025 bonds at €0.03/share
Otra Información Relevante (Patblasc convertible bond conversion, 600 bonds at €0.03/share)Thu, Mar 26, 2026
Shares Outstanding
136.6M→149.1M+12.5M(+9.2%)
500 bonds converted by GCFO 21 at 0.04 EUR/share
Convertible bond conversions (Mar 24 & Mar 26, 2026)Wed, Mar 25, 2026
Debt OutstandingIssuanceVANA-Tkn26
5.8M→8.0M+2.2M(+37.6%)
Up to €8M authorized via DLT/blockchain
Emisión de deuda tokenizada (up to €8M)Tue, Mar 24, 2026
Shares Outstanding
127.8M→136.6M+8.8M(+6.8%)
350 bonds converted by Patblasc at 0.04 EUR/share
OIR — Conversión Patblasc 24 marzo 2026 (350 OC, +8.75M acciones → 136,560,824)Mon, Mar 23, 2026
BTC Holdings
209→213+4 BTC(+1.9%)
BME Growth filing (BTC acquisition, 213 BTC)
Fri, Mar 20, 2026
Shares Outstanding
102.8M→127.8M+25.0M(+24.3%)
After multiple convertible bond conversions (Feb-Mar 2026)
OIR — Participaciones significativas a 17 de marzo de 2026Fri, Mar 6, 2026
BTC Holdings
205→209+4 BTC(+2.0%)
OIR — Adquisición de Bitcoin (saldo acumulado 209 BTC, 06 de marzo de 2026)
Thu, Feb 26, 2026
BTC Holdings
200→205+5 BTC(+2.5%)
OIR — Adquisición de Bitcoin (saldo acumulado 205 BTC, 26 de febrero de 2026)
Tue, Feb 24, 2026
Shares Outstanding
71.3M→102.8M+31.5M(+44.3%)
OIR — Participaciones significativas a 24 de febrero de 2026
Fri, Feb 13, 2026
BTC Holdings
193→200+7 BTC(+3.6%)
OIR — Adquisición de Bitcoin (saldo acumulado 200 BTC, 13 de febrero de 2026)
Thu, Feb 5, 2026
BTC Holdings
183→193+10 BTC(+5.5%)
OIR — Adquisición de Bitcoin (saldo acumulado 193 BTC, 05 de febrero de 2026)
Thu, Jan 8, 2026
BTC Holdings
173→183+10 BTC(+5.8%)
OIR — Adquisición de Bitcoin (saldo acumulado 183 BTC, 08 de enero de 2026)
Tue, Jan 6, 2026
BTC Holdings
161→173+12 BTC(+7.5%)
OIR — Adquisición de Bitcoin (saldo acumulado 173 BTC, 06 de enero de 2026)