ConvertibleActiveBTC
8% Convertible Notes due 2027
MATA-Dec27
BTC Holdings
175 BTC
Total Debt
C$14.51M
Leverage
84.5%
mNAV
0.37x
Outstanding
$10.50M
Insufficient history
Issue date
2025-11-10
Principal
$10.50M
Coupon
8.00%
Maturity
2027-12-07
Conversion price
C$0.53
- Secured by Bitcoin equal to 150% of principal (initial closing) or 100% (subsequent closings)
- Feb 2026 amendment: alternate conversion price changed to lowest 10-day VWAP preceding conversion notice
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior secured
- Settlement
- Shares
- Rate type
- Step-up
- Rate reference
- 8% initial; 5% upon NASDAQ/NYSE uplisting; 18% upon event of default
- Put provision
- Holders may require cash redemption of all amounts owing upon event of default
- Use of proceeds
- Exclusively to purchase Bitcoin for balance sheet
Sources(3)
- CORRECTION – Updated Term…Press ReleaseCORRECTION – Updated Terms of USD$100M Convertible Note FacilityCorrected terms (authoritative)Matador Technologies Inc. — 2025-12-16
- Closing of Convertible No…Press ReleaseClosing of Convertible Note FacilityInitial closing announcementMatador Technologies Inc. — 2025-11-10
- ATM Prospectus Supplement…FilingATM Prospectus Supplement (Feb 2026)Feb 2026 amendment (conversion price, late interest waiver)Matador Technologies Inc. — 2026-02-03
Participants
Holders & Underwriters(2)
- Closing of Convertible No…Joseph Gunnar & Co., LLCunderwriteras of 2025-11-10Placement agent
- Closing of Convertible No…ATW PartnersholderC$10.5Mas of 2025-11-10
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-11-10 | Issuance | $10.50M | Closing of Convertible No… |
- 2025-11-10 — $10,500,000press_release — Matador Technologies Inc.Source