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Upexi Announces Pricing of $36 Million Private Placement of Convertible Note Priced Above the Market
Globenewswire· 2026-01-13 13:00
Core Insights - Upexi, Inc. has entered into a securities purchase agreement with Hivemind Capital Partners to purchase a Convertible Note valued at approximately $36 million, which will increase its Solana treasury by 12% to over 2.4 million SOL [1][2] Group 1: Transaction Details - The Convertible Note has an interest rate of 1.0% payable quarterly, a fixed conversion price of $2.39 per share, and a maturity of 24 months [1] - The closing of the Note offering is expected around January 14, 2026, subject to customary closing conditions [2] Group 2: Company Position and Strategy - Upexi increased adjusted SOL per share by 34% in 2025, and this transaction is expected to further enhance its market position in the Solana treasury space [3] - The company aims to acquire and hold as much Solana (SOL) as possible, utilizing mechanisms such as intelligent capital issuance, staking, and discounted locked token purchases [5] Group 3: Investor Sentiment - Hivemind Capital Partners expresses confidence in Upexi's strategy and ability to create long-term value, viewing this transaction as a means to gain exposure to Solana [3]
Bitcoin mining stocks: TeraWulf’s record $3.2B note, miner debt tops $20 billion, Jane Street’s BitFarms and Cipher position, and why AI companies are buying jet engines
Yahoo Finance· 2025-10-24 19:55
Core Insights - Bitcoin miners are facing shrinking margins due to a decline in Bitcoin prices, with hashprice around $47 per petahash per day and a forecasted difficulty adjustment increase of 4.7% [2] Group 1: Financial Developments - TeraWulf has raised $3.2 billion through a senior secured note due 2030 at 7.75%, marking the largest debt issuance in Bitcoin mining history, with proceeds aimed at funding AI and high-performance computing expansion [3] - BitFarms has successfully raised $588 million through an upsized convertible note, netting $568 million at a 1.375% coupon, indicating a trend towards structured debt for financing AI transitions [4][5] Group 2: Industry Trends - Data-center operators are increasingly utilizing repurposed aircraft jet engines to meet the rising power demands of AI workloads, with each turbine capable of delivering up to 48 MW [6] - An "arms race" for generators and transformers is confirmed by industry executives, highlighting the strain on supply chains due to AI build-outs, with energy scarcity influencing valuations in digital infrastructure [7] Group 3: Company Initiatives - CleanSpark has appointed Jeffrey Thomas as Senior VP of AI Data Centers to lead its HPC expansion strategy, focusing on integrating AI workloads with Bitcoin mining [8]
DeFi Development Corp. to Host X Spaces Event: “Our First SPS Forecast, Convertible Note Breakdown, & Company Update”
GlobeNewswire News Room· 2025-07-14 20:00
Company Overview - DeFi Development Corp. (Nasdaq: DFDV) is hosting a live X Spaces conversation on July 15, 2025, to discuss its inaugural guidance release, Convertible Note offering, and other business updates [1] - The company has adopted a treasury policy that allocates its principal holding to Solana (SOL), providing investors with direct economic exposure to SOL while participating in the growth of the Solana ecosystem [4] - DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake, and is engaged in decentralized finance (DeFi) opportunities [4] Financial Guidance and Convertible Note - The upcoming session will provide an overview of DFDV's first-ever financial guidance, including key metrics and strategic priorities [8] - Insights into the structure and rationale of the Convertible Note will be discussed, highlighting its implications for growth and balance sheet flexibility [8] Audience Engagement - The event will include a live Q&A with DFDV executives, allowing for discussions on the company's vision, milestones, and future plans [8]
Vireo Growth Inc. Announces Retirement of November 2024 Convertible Note
Globenewswire· 2025-07-09 12:30
Core Points - Vireo Growth Inc. announced the retirement of a US$10 million convertible note originally issued on November 1, 2024, and concurrently issued a new US$10 million convertible note as part of its refinancing initiatives [1] - The repayment and issuance of the convertible notes are classified as a "related party transaction" under Multilateral Instrument 61-101, exempting them from formal valuation and minority shareholder approval requirements [2] - The new convertible note was issued under exemptions from the registration requirements of the U.S. Securities Act and applicable Canadian and U.S. state securities laws [3] Company Overview - Vireo Growth Inc. was founded in 2014 as a pioneer in the medical cannabis industry, focusing on building a disciplined and execution-oriented platform while leveraging a national portfolio [4]
Maxim Power Corp. Announces that it has Closed the Sale of Summit Coal
Globenewswire· 2025-04-30 00:58
Core Viewpoint - Maxim Power Corp. has successfully completed the sale of its wholly-owned subsidiaries Summit Coal Limited Partnership and Summit Coal Inc. to Valory Resources Inc. for a total of $14.2 million, which includes $10.2 million in cash and $4.0 million in equity securities [1][2] Group 1: Sale Details - The sale price consists of $10.2 million in cash and a $4.0 million Convertible Note, which is a 15% interest-bearing note convertible into Valory common shares at a 30% discount during a convertible event [1][2] - The sale included $2.2 million of restricted cash, resulting in net cash proceeds to Maxim of $8.0 million [2] Group 2: Royalty Agreement - Maxim will receive a 3% royalty on any raw coal produced from the coal leases owned by Summit, including volumes from Summit's Mine 14 project, calculated using a Premium Low Vol Hard Coking Coal benchmark [3] - The timing and amount of royalty payments depend on the commencement of production, which is uncertain [3] Group 3: Ground Lease Agreement - Maxim, through its subsidiary Milner Power Inc., has entered into a twelve-year ground lease with a nominee of Valory for the construction and operation of a coal processing facility [4] - The lease includes a fixed annual payment of $2.1 million and a variable throughput payment, which could be substantial if coal is processed, but there is no certainty regarding the construction timeline [4] - The first-year pro-rated fixed payment of approximately $1.4 million was received on the lease commencement date [4] Group 4: Company Overview - Maxim Power Corp. is based in Calgary, Alberta, and is one of Canada's largest independent power producers, focusing on power projects in Alberta [5] - The company's core asset is the 300 MW H.R. Milner Plant, which is a state-of-the-art combined cycle gas-fired power plant that began operations in Q4 2023 [5] - Maxim is exploring additional development options in Alberta, including gas-fired generation and wind power projects [5]