Matador Technologies Inc. has finalized a $100 million secured convertible note facility to enhance its Bitcoin treasury strategy, aiming for significant accumulation by 2027.
Matador Technologies Inc. has entered into a secured convertible note facility with ATW Partners for $100 million to accelerate its Bitcoin treasury strategy. The initial $10.5 million will be deployed immediately, while the remaining $89.5 million is contingent on regulatory approvals. The company aims to acquire 1,000 BTC by 2026 and 6,000 BTC by 2027, with a long-term goal of holding 1% of Bitcoin's total supply. The notes have an annual interest rate of 8% and are backed by Bitcoin collateral.