Jun. 11 at 12:11 PM
$NAKA Reduced outstanding debt by approximately
$45 million through the monetization of a portion of its Bitcoin holdings and Bitcoin-related derivative positions. The repayment was funded through the sale of approximately 600 Bitcoin and Bitcoin-related derivative positions, generating approximately
$48 million net proceeds.
Entered into new loan term sheet that extended approximately 105 million USDT principal to June 30, 2027.
Ability to reduce the loan interest rate to 7.75% per annum and enhanced collateral flexibility using collateral in the Company’s Bitwise trading wallet.
Expected to decrease annual financing costs by approximately
$4 million.
Authorized a share repurchase program of up to
$25 million, reflecting the Board’s confidence in the Company’s intrinsic value and long-term growth prospects.
Maintained a Bitcoin treasury position of approximately 4,467 Bitcoin following the debt reduction and refinancing transactions.
Regained Nasdaq compliance.
