TechFlow news, November 10 — Matador Technologies Inc. (TSXV: MATA) today announced the completion of its first tranche of $10.5 million in convertible note financing, which will be specifically used to purchase Bitcoin. The company has entered into a financing agreement with ATW Partners for a total of $100 million, with the remaining $89.5 million available upon meeting regulatory conditions. Matador plans to use this funding to achieve a target of holding 1,000 Bitcoin by 2026 and expanding to 6,000 Bitcoin by 2027, as part of its long-term strategy to hold approximately 1% of Bitcoin's total supply. The convertible notes carry an annual interest rate of 8%, which will reduce to 5% if the company successfully transfers its listing from TSX to NASDAQ or NYSE.
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