Other DebtActive
Senior Unsecured Promissory Note (SATS)
FLD-SATS27
BTC Holdings
827 BTC
Total Debt
$23.00M
Leverage
26.1%
mNAV
1.06x
Outstanding
$13.00M
Insufficient history
Issue date
2026-02-26
Principal
$13.00M
Coupon
10.00%
Maturity
2027-02-26
Conversion price
—
- 520,000 common shares issued to lender as commitment fee
- Renewable for 1 additional year upon mutual consent + issuance of 520,000 shares
- Related party: SATS Credit Fund LP managed by Ten31 LLC, affiliate of lead director
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Payment frequency
- Monthly
- Rate type
- Fixed
- Covenants
- Permitted Debt Cap of $25M future indebtedness (excludes this note and credit card program debt)
- Prepayment
- Borrower may prepay at any time without penalty; SATS may require prepayment at BTC price triggers: <=$45,000 (25%), <=$40,000 (50%), <=$37,000 (100%) of outstanding principal plus accrued interest
Sources(1)
- Form 8-K (Convertible Deb…FilingForm 8-K (Convertible Debt Elimination & $13M Note)Item 1.01Fold Holdings Inc. — 2026-02-27
Participants
Holders & Underwriters(1)
- Form 8-K (Convertible Deb…SATS Credit Fund LPholder$13Mas of 2026-02-26
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2026-02-26 | Issuance | $13.00M | Form 8-K (Convertible Deb… |
- 2026-02-26 — $13,000,000filing — Fold Holdings Inc.Source