An initial $10.5 million will be funded at the initial closing, while $89.5 million remains available pending regulatory approvals. All funds will be used exclusively to purchase Bitcoin, reinforcing Matador’s commitment to a Bitcoin focused treasury strategy.

“This financing represents meaningful progress toward our long term Bitcoin accumulation goals,” commented the CEO of Matador Technologies Deven Soni. “It provides the Company with capital to increase our Bitcoin holdings in a way that minimizes immediate dilution and aligns with our broader capital strategy.”

The funding supports Matador’s long term Bitcoin strategy announced on July 16, which includes plans to acquire up to 1,000 BTC by 2026, grow its holdings to 6,000 BTC by 2027, and ultimately hold 1% of Bitcoin’s total supply to rank among the top 20 corporate holders worldwide.

“Bitcoin remains central to our business model and balance sheet approach,” added the Chief Visionary Officer of Matador Technologies Mark Moss. “This structure supports our objective of growing Bitcoin per share and reflects continued institutional interest in our strategy.”

The Notes carry an annual interest rate of 8% and mature approximately two years from each closing date. They are backed by Bitcoin collateral, with 1.5 times coverage for the initial tranche and 1.0 times for future tranches. The conversion price is based on the closing market price prior to each announcement, set at CAD$0.72 for the initial closing.

“Our business is structured around Bitcoin as a core asset,” stated Soni. “This approach extends beyond treasury management to include infrastructure and operational components aligned with the Bitcoin ecosystem. Execution is subject to financing, market conditions and regulatory approval.”