Kylymd (Naka)Nasdaq-list firm recently merged with bitcoin
Treasury firm fails closed $ 200 million convertible note Offer late Friday night.
Convertible notes are not interested in the first two years, then they carry 6% annual rate starting in the year three until 2028 maturity. The firm intends to use funds to buy additional bitcoins.
The note was noted by James Van Stratene, senior analyst of Coindesk, with YA II PN Fund of Yorchville Advisors.
Yorkville can convert loans into equity at an initial price of $ 2.80 per share, if the lender protests to convert to stock, increases the concerns of weakening. Nakamoto/Kylymd also requires the principal’s size to be inserted twice as collateral in BTC, providing a strong negative security to the lender.
Naka’s shares were 11.2% low on Monday, as well as the news of convertible capital ridge and bitcoin prices declined in the weekend. Other bitcoin treasury strategies were also in red, but the decline was more silent. strategy (MSTR) And Seveler Scientist (SMLR)For example, each were slightly below each 1%.
Read more: Michael Sirer’s strategy added $ 51m bitcoin last week
