Bitcoin treasury Matador’s $58M share-sale approved to expand holdings
Matador Technologies received approval to sell C$58.4 million in shares to fund its goal of acquiring 1,000 Bitcoin by the end of 2026.Summary
Bitcoin financial services firm Matador Technologies has been permitted by the Ontario Securities Commission to issue up to C$58.4 million ($58.4 million) in various securities over a 25-month period. The company intends to use the proceeds to expand its Bitcoin holdings, aiming for a treasury balance of 1,000 Bitcoin by the end of 2026. Matador currently holds 175 Bitcoin, valued at $15.3 million. CEO Deven Soni emphasized the focus on increasing Bitcoin per share, while Chief Visionary Mark Voss noted they will strategically deploy capital based on market volatility. Despite the news, Matador's shares fell slightly. This move reflects the broader trend of institutional Bitcoin adoption, though some companies holding Bitcoin on their balance sheets have faced share price declines.
(Source：Cointelegraph)