Matador Technologies issues $10.5 million in senior secured convertible bonds and currently holds approximately 168 Bitcoins

Odaily Planet Daily News Matador Technologies announced that it has issued senior secured convertible bonds with an aggregate principal amount of US$10.5 million and currently holds approximately 168 Bitcoins. The company funds its Bitcoin treasury through common stock and secured convertible debt. The issuance is part of its $100 million secured convertible debt facility, with the remaining $89.5 million available for drawdown in tranches subject to regulatory approvals and other conditions. The company currently has average monthly cash operating expenses of approximately C$125,000, with plans to further reduce this to approximately C$100,000. The company's shareholders will vote on the creation of a new class of preferred stock on Oct. 14.