Overview
- The $130 million loan was secured on November 21 and disclosed November 25, taking borrowings to $230 million under a $500 million credit line.
- Proceeds are earmarked for additional Bitcoin purchases, scaling an options-based income unit, and possible share repurchases.
- The facility is fully collateralized by 30,823 BTC reported as of October 31, valued at about $3.5 billion, providing substantial coverage.
- Terms include a floating rate tied to a USD benchmark, daily renewal, repayment at the company’s discretion, and an undisclosed lender.
- Management says it is borrowing within conservative limits, expects minimal effect on FY2025 results, and will disclose any material impacts promptly.