Lucosky Brookman Serves as Placement Agent’s Counsel in Matador Technologies’ $10.5 Million Initial Closing of Secured Convertible Note Facility
Matador Technologies Inc. (TSXV: MATA, OTCQB: MATAF, FSE: IU3), the Bitcoin Ecosystem Company, announced the closing of the first tranche of its secured convertible note facility with ATW Partners. In the Initial Closing, the Company issued secured convertible notes totaling USD $10.5 million, the first portion of a facility that provides up to USD $100 million in potential funding.
The Facility will be used to purchase Bitcoin for Matador’s balance sheet and supports the Company’s long-term BTC strategy, which includes acquiring up to 1,000 BTC by 2026, expanding to 6,000 BTC by 2027, and targeting approximately 1% of Bitcoin’s total supply, positioning Matador among the top 20 corporate BTC holders globally.
The Notes bear interest at 8% per annum, scaling down to 5% following a proposed uplisting from the TSX Venture Exchange to the Nasdaq or NYSE. Interest may be paid in cash, added to principal, or converted into common shares, subject to the terms of the Notes. Up to 19,842,083 common shares may be issued upon conversion of the Notes at a conversion price of USD $0.529178304 (CAD $0.72) per share. The Notes mature on December 7, 2027.
Joseph Gunnar & Co., LLC acted as the placement agent, and Lucosky Brookman LLP served as counsel to the placement agent in connection with the transaction.
Related Professionals: Joseph Lucosky, Seth Brookman, Lawrence Metelista, Kyle Taylor, Jeff Paolone