BIT ORIGIN Ltd (BTOG) Form 6-K — Jun 29, 2026
Bit Origin Ltd entered into a securities purchase agreement to sell up to $10,000,000 in Senior Convertible Notes, with an initial closing of $2,000,000. The notes mature on June 29, 2030, and are convertible into Class A ordinary shares at a price of $1.63 per share. The purchase price is set at approximately $930 for every $1,000 of principal amount. The transaction includes a limited waiver from an existing holder regarding defaults under prior securities purchase agreements from 2025 and 2026.
Key figures
- Debt Amount
- $10,000,000
- Interest Rate
- 0
- Maturity Date
- June 29, 2030
- Conversion Price
- $1.63
- Initial Closing Amount
- $2,000,000
- Purchase Price Per Note
- $930
- Legal Fees Initial Closing
- $125,000
- Additional Closing Capacity
- $8,000,000
- Legal Fees Additional Closing
- $35,000
AI analysis
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