Matador Technologies Issues $10.5 Million Senior Secured Convertible Debentures, Currently Holds Approximately 168 Bitcoins

Odaily News: Matador Technologies has announced the issuance of senior secured convertible debentures with an aggregate principal amount of $10.5 million, and currently holds approximately 168 bitcoins. The company funds its Bitcoin treasury through common shares and secured convertible debentures. This issuance is part of its $100 million secured convertible debenture facility, with the remaining $89.5 million available for drawdown in tranches subject to regulatory approval and other conditions. The company's current average monthly cash operating expenses are approximately CAD 125,000, with plans to further reduce this to approximately CAD 100,000. Shareholders will vote on October 14 on the creation of a new class of preferred shares.