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Matador Technologies Inc. has signed a $100 million secured convertible note facility with ATW Partners, aiming to expand its Bitcoin-focused treasury strategy. The deal includes an initial funding of $10.5 million, while the remaining $89.5 million is pending regulatory approvals. All proceeds will be used solely to purchase Bitcoin, strengthening Matador’s position in the digital asset space.
The company plans to acquire up to 1,000 BTC by 2026 and grow its holdings to 6,000 BTC by 2027. Ultimately, Matador aims to hold 1% of Bitcoin’s total supply, placing it among the top 20 corporate holders worldwide. CEO Deven Soni said the funding aligns with the company’s long-term capital strategy and reduces immediate dilution, supporting its Bitcoin accumulation goals.
The secured notes carry an 8% annual interest rate and mature in approximately two years. Backed by Bitcoin collateral, they offer 1.5 times coverage for the first tranche. The conversion price for the initial closing is set at CAD$0.72.
