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Financings

Belgravia Hartford Provides Corporate Update on Bitcoin Treasury and Convertible Debenture Repricing

By The Northwire Desk — AI Analysis Oct 31, 2025 · 09:29 BLGV · 0.045 Belgravia Hartford Capital Inc.
BLGV · Price

Executive Summary

  • Belgravia Hartford announced a repricing of its US$5 million convertible debenture, lowering the conversion price from C$0.71 to C$0.125 per share.
  • The company disclosed its Bitcoin treasury holdings (83.14 BTC) and detailed how each tranche was acquired.
  • Finalized equity financing numbers were clarified: 15,543,822 units at C$0.25 per unit for gross proceeds of C$3,885,955.50.

Key Details

  • Convertible Debenture Repricing
  • New conversion price: C$0.125 per share (down from C$0.71).
  • Trigger mechanism: If common shares trade ≥ C$0.17 for 10 consecutive days, Belgravia may announce acceleration; Round13 then has 30 days to convert at the repriced rate.

  • Unconverted portion reverts to original conversion price for the remainder of the term.

  • Bitcoin Treasury (as of Oct 31 2025)

  • Total holdings: 83.14 BTC.

    • 26.55742 BTC – 100% owned, unencumbered; avg. cost US$117,355.93/BTC.
    • 42.37753 BTC – funded via Round13 convertible debenture; avg. cost US$117,986.77/BTC.
    • 14.21448 BTC – acquired using corporate credit facilities; avg. cost US$105,517.72/BTC.

  • Bitcoin Standard Conversion Framework

  • The debenture remains fully backed by Bitcoin.

  • If Round13 does not convert by maturity, the 42.37753 BTC tied to the debenture will be returned to Round13, limiting downside price risk for Belgravia.

  • Equity Financing Clarification (July 16 2025)

  • Units issued: 15,543,822 at C$0.25 per unit.

  • Gross proceeds: C$3,885,955.50 (adjusted from previously announced figures).

  • Regulatory Notes

  • Securities not registered under the U.S. 1933 Act; cannot be offered/sold in the United States or to U.S. persons without exemption.

Notable Quotes

“This repricing marks a prudent and shareholder‑friendly step forward. It provides flexibility for conversion at a fair market level, removes balance‑sheet overhang, and reinforces our alignment with long‑term shareholders and Bitcoin‑based financing principles.” – Mehdi Azodi, President & CEO

Materiality Assessment: Material – Positive (the repricing materially alters the company’s capital structure and reduces debt exposure; treasury disclosure provides substantive insight into asset backing).

Read the original news release →

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