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Matador Technologies revises $100 million convertible bond terms, focuses on expanding Bitcoin holdings
Summary: According to reports, Matador Technologies Inc. (TSXV: MATA) has announced the revision of the terms of a $100 million convertible note financing agreement with ATW Partners and has signed the first $10.5 million delivery. Following the Ontario Securities Commission's review requirements, the company has issued a correction disclosure, removing statements such as 'holding 6,000 bitcoins ...
According to reports, Matador Technologies Inc. (TSXV: MATA) has announced the revision of the terms of a $100 million convertible note financing agreement with ATW Partners and has signed the first $10.5 million delivery.
Following the Ontario Securities Commission's review requirements, the company has issued a correction disclosure, removing statements such as 'holding 6,000 bitcoins by 2027' and 'holding approximately 1% of the total Bitcoin supply.' Under the revised agreement, the financing funds will be specifically used to purchase Bitcoin to drive growth in Bitcoin holdings per share. The notes carry an annual interest rate of 8%, which will decrease to 5% after the company lists on NASDAQ or NYSE from TSXV. The notes are secured by Bitcoin, with collateral amounting to 150% of the principal (initial delivery) or 100% (subsequent deliveries). Matador CEO Deven Soni stated, 'This financing marks an important step in our long-term Bitcoin accumulation plan, providing the funds needed to expand our Bitcoin holdings while limiting short-term dilution and maintaining alignment with our overall capital strategy.' The company plans to acquire up to 1,000 bitcoins by 2026.
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Link: Matador Technologies revises $100 million convertible bond terms, focuses on expanding Bitcoin holdings [Copy]
