The Ontario Securities Commission has authorized Matador Technologies to raise up to 80 million Canadian dollars ($58.4 million) through a multi-instrument shelf prospectus, with proceeds intended to expand the firm’s Bitcoin holdings toward a target of 1,000 BTC by the end of 2026.
Matador said on Tuesday the regulator cleared it to issue up to $58.4 million in common shares, warrants, subscription receipts, debt securities, or units over a 25-month period.
Chief executive Deven Soni said the company remains focused on increasing Bitcoin per share over time and reaffirmed the objective of reaching a 1,000 BTC treasury by year-end 2026.
The firm currently holds 175 Bitcoin (BTC), valued at $15.3 million, ranking it the 90th largest corporate holder, according to BitcoinTreasuries.NET.
Chief visionary Mark Voss said Matador will closely track Bitcoin’s price volatility and deploy capital opportunistically during the current market cycle.
Source: Matador Technologies
Shares of Matador (MATA) closed Tuesday down 3.57%. Find latest updates on Google.
More than 190 publicly traded companies now report Bitcoin on their balance sheets, extending institutional participation following the launch of spot Bitcoin exchange-traded funds in the United States last year. However, several firms pursuing Bitcoin treasury strategies have seen share prices retreat alongside broader crypto market pullbacks, prompting some analysts to question the long-term durability of such approaches.
Some corporate holders have also sold portions of their Bitcoin reserves to meet balance-sheet needs amid tighter conditions. Chip maker Sequans sold 970 BTC in early November to redeem outstanding convertible debt, reversing course on its stated goal to accumulate 100,000 BTC over the next five years.
Matador bought 175 BTC in first year of treasury
Matador develops products to help traditional finance firms access the Bitcoin ecosystem and announced its transition to a Bitcoin treasury company on Dec. 23, 2024. In July, the company said it plans to increase its target from 1,000 BTC by 2026 to 6,000 BTC by the end of 2027.
Its longer-term objective is to acquire 1% of Bitcoin’s fixed supply, or about 210,000 BTC. Michael Saylor’s Strategy is the only corporate Bitcoin holder to have reached that scale to date.
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