ConvertibleActiveBTC
1% Convertible Notes due 2030
BTCT-Jun30
BTC Holdings
759.31 BTC
Total Debt
C$25.00M
Leverage
33.6%
mNAV
0.54x
Outstanding
C$25.00M
Insufficient history
Issue date
2025-06-23
Principal
C$25.00M
Coupon
1.00%
Maturity
2030-06-23
Conversion price
C$12
- 3x BTC collateral requirement: issuer must purchase and hold BTC equal to 3x dollar value of debentures issued
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured (other than in respect of BTC collateral)
- Settlement
- Shares
- Payment frequency
- Semi-annual
- Payment dates
- Jun 23, Dec 23
- Rate type
- Fixed
- Call provision
- Redeemable after 3 years at par plus accrued interest if stock >= 130% of conversion price
- Put provision
- Holders may force repurchase at 3 years from issuance at par plus accrued interest
- Use of proceeds
- BTC acquisition
Sources(2)
- $125M Financing with Conv…Press Release$125M Financing with Convertible Debentures2680083 Alberta Ltd. — 2025-05-12
- Closing of Amalgamation a…Press ReleaseClosing of Amalgamation and $125M FinancingBitcoin Treasury Corporation — 2025-06-23
Participants
Holders & Underwriters(2)
- Closing of Amalgamation a…Canaccord Genuity Corp.underwriteras of 2025-06-23Co-lead agent
- Closing of Amalgamation a…Stifel GMPunderwriteras of 2025-06-23Co-lead agent
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-06-23 | Issuance | C$25.00M | Closing of Amalgamation a… |
- 2025-06-23 — C$25,000,000press_release — Bitcoin Treasury CorporationSource