Matador Technologies Inc. aims to strategically acquire up to 6,000 Bitcoin by 2027, starting with an interim target of 1,000 BTC by 2026. The current holdings of the company are 77.4 BTC, and the goal is to hold 1% of Bitcoin's total supply. To finance this initiative, Matador has filed a CAD $900 million base shelf prospectus to raise capital. If approved, this would allow for flexibility in funding strategies to achieve the acquisition goals.
"Our business is structured around Bitcoin as a core asset," said the CEO of Matador Technologies Deven 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."
To fund this initiative, Matador has filed a CAD $900 million base shelf prospectus, allowing it to raise capital through equity, debt, or units, with pending regulatory approval. The entire fund will be used to purchase Bitcoin at an average price of CAD $151,659 per BTC, the company could acquire approximately 5,934 BTC. Combined with its current holdings of 77 BTC, this would total roughly 6,011 BTC, meeting its 2027 target.
"This filing is currently under review," the press release stated. "If approved, the Shelf Prospectus will allow the company to issue equity, debt, or units at any time over a 25-month period, giving Matador the flexibility to raise capital in alignment with favorable market conditions."
The company is exploring a range of funding strategies, including at-the-market (ATM) equity offerings, BTC backed credit facilities, convertible or structured financings, divestiture of non-core assets, and strategic acquisitions or partnerships that aim to boost BPS.
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