ConvertibleActiveBTC
0% Convertible Notes due 2030
CPTLB-A03
BTC Holdings
2,888 BTC
Total Debt
€102.08M
Leverage
57.4%
mNAV
0.98x
Outstanding
€6.00M
Issue date
2025-06-12
Principal
€6.00M
Coupon
0.00%
Maturity
2030-06-12
Conversion price
€3.12
- Conversion price halved from €6.24 to €3.12 on 2026-03-17; conversion now also grants 1 BSA OC warrant per OCA
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Unsecured
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- On or after 3rd anniversary of issuance, issuer may convert if VWAP over 20 consecutive trading days >= 130% of conversion price
- Use of proceeds
- 95% to acquire and hold Bitcoin; 5% for operational expenses and management fees
Sources(2)
- B-02 Tranche C & A-03 Con…Press ReleaseB-02 Tranche C & A-03 Convertible Bond IssuanceCapital B SA — 2025-06-12
- EUR 3M Capital Raise and …Press ReleaseEUR 3M Capital Raise and Conversion Price Adjustment for A-03 A-04 A-05conversion price adjustmentCapital B SA — 2026-03-17
Participants
Holders & Underwriters(1)
- B-02 Tranche C & A-03 Con…TOBAMholder€6Mas of 2025-06-12
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-06-30 | — | €6.00M | Half-year report |
| 2025-06-12 | Issuance | €6.00M |
- 2025-06-30 — €6,000,000Page 61 — filing — Capital B SASource
- 2025-06-12 — €6,000,000