Bitcoin ecosystem company Matador Technologies released a corporate update on Oct. 2, saying it currently holds about 168 BTC and is funding its Bitcoin treasury through common shares and secured convertible notes. The company said it has issued senior secured convertible notes with an aggregate principal amount of $10.5 million under its $100 million secured convertible note facility. The remaining $89.5 million may be drawn in tranches, subject to regulatory approvals and other conditions. Matador also disclosed that its average monthly cash operating expenses are about C$125,000, with a plan to reduce that figure to roughly C$100,000 per month. In addition, shareholders are scheduled to vote on Oct. 14 on the creation of a new class of preferred shares.
BlockBeats reported on Oct. 2 that Bitcoin ecosystem company Matador Technologies released a corporate update saying it currently holds about 168 BTC and is funding its Bitcoin treasury through common shares and secured convertible notes.
The announcement said Matador has issued senior secured convertible notes with an aggregate principal amount of $10.5 million under its $100 million secured convertible note facility. The remaining $89.5 million may be drawn in tranches, subject to regulatory approvals and other conditions.
The company also said its average monthly cash operating expenses currently stand at about C$125,000, and that it plans to reduce that figure to roughly C$100,000 per month.
Shareholders are set to vote on Oct. 14 on the creation of a new class of preferred shares.
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