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Matador Technologies completes $10.5 million convertible bond financing, all used to purchase Bitcoin.
Deep潮 TechFlow News, November 10th, Matador Technologies Inc. (TSXV:MATA) announced today the completion of an initial $10.5 million convertible note financing, with funds exclusively allocated for Bitcoin purchases. The total financing amount with ATW Partners is $100 million, with the remaining $89.5 million available for withdrawal upon regulatory approval. Matador plans to achieve a goal of holding 1,000 Bitcoins by 2026 and expanding to 6,000 by 2027 through this financing, ultimately aiming to hold approximately 1% of the total Bitcoin supply as a long-term strategy. The convertible bond has an annual interest rate of 8%, which will decrease to 5% if the company successfully switches its listing from TSX to NASDAQ or NYSE.