ConvertibleActiveBTC
0% Convertible Notes due 2030
CPTLB-B01
BTC Holdings
2,888 BTC
Total Debt
€102.08M
Leverage
57.4%
mNAV
0.98x
Outstanding
€14.20M
Issue date
2025-03-06
Principal
€48.60M
Coupon
0.00%
Maturity
2030-03-06
Conversion price
€0.54
- Effectively Bitcoin denominated
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(1)
- B-01 & A-01 Convertible B…Press ReleaseB-01 & A-01 Convertible Bonds IssuanceCapital B SA — 2025-03-06
Participants
Holders & Underwriters(6)
- OCA B-01 conversion by Bl…Blockstream Capital Holdingsholder€14.2Mas of 2026-03-30
- OCA B-01 conversion by Bl…UTXO Management (210k Capital, LP)holder€0as of 2026-03-30Fully converted
- B-01 & A-01 Convertible B…Fulgur Venturesholder€36Mas of 2025-03-06
- B-01 & A-01 Convertible B…Adam Backholder€8Mas of 2025-03-06
- B-01 & A-01 Convertible B…UTXO Management (210k Capital, LP)holder€2Mas of 2025-03-06
- B-01 & A-01 Convertible B…Ludovic Chechin-Lauransholder€1.6Mas of 2025-03-06
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2026-03-30 | Conversion | €14.20M Blockstream converted 17,897,600 OCA; UTXO Management converted 2,020,372 OCA (all UTXO holdings) | OCA B-01 conversion by Bl… |
| 2025-06-30 | — | €35.73M | Half-year report |
| 2025-03-06 | Issuance | €48.60M |
- 2026-03-30 — €14,195,352press_release — Capital B SASource
- 2025-06-30 — €35,726,945Page 61 — filing — Capital B SASource
- 2025-03-06 — €48,600,000