Matador acquires 92 bitcoin with note facility drawdown

Executive Summary

• Matador Technologies Inc. has closed its previously disclosed $100-million (U.S.) secured convertible note facility with ATW Partners and completed the first drawdown of $9.5-million (U.S.) to acquire 92 bitcoin.
• The acquisition brings Matador's total bitcoin holdings to approximately 175 bitcoin (and bitcoin equivalents), more than doubling its previous balance of 82 bitcoin.
• The bitcoin was purchased through Netcoins and FalconX at an average price of $102,752 (U.S.) per bitcoin, with custody secured by BitGo Trust Company Inc.

Key Details

• Financing Structure: Secured convertible note facility with ATW Partners (New York-based investment firm) for a total capacity of $100-million (U.S.).
• First Drawdown Amount: $9.5-million (U.S.) (equivalent to $13.2-million Canadian).
• Asset Acquired: 92 bitcoin.
• Purchase Price: Average of $102,752 (U.S.) per bitcoin, inclusive of fees and expenses.
• Counterparties: Purchases executed through Netcoins (owned by Bigg Digital Assets Inc.) and FalconX.
• Custody: All bitcoin holdings secured in qualified custody through BitGo Trust Company Inc.
• Total Holdings Post-Transaction: Approximately 175 bitcoin and bitcoin equivalents (up from 82).
• Use of Proceeds: Restricted strictly to purchasing bitcoin for Matador's balance sheet.
• Regulatory Status: The close of the facility is subject to TSX Venture Exchange final approval.
• Additional Capital Flexibility: Matador filed an amended and restated preliminary short form base shelf prospectus for $500-million (Canadian) on Oct. 8, 2025, subject to regulatory approvals.
• Strategic Context: The transaction underscores Matador's commitment to bitcoin as a core reserve asset and its disciplined approach to building a regulated, public company bitcoin treasury program.

Notable Quotes

• "Completing a $100-million financing and deploying it into bitcoin in the current market environment speaks to both our conviction and our ability to get things done," said Deven Soni, chief executive officer of Matador Technologies.
• "Matador has more than doubled its holdings from 82 bitcoin and bitcoin equivalents to 175 bitcoin and bitcoin equivalents," said Mark Moss, chief visionary officer of Matador Technologies.