Cathedra Bitcoin Inc. Settles Bond Principal by Issuing Common Shares

02/22/2023 13:46 • AI & Tech Insights • 117 views

On February 22, the Bitcoin mining company Cathedra Bitcoin Inc. announced that the company’s board of directors had approved the settlement of the principal of some of the issued bonds into the company’s common shares, equivalent to (i) not more than 9.9% of the total outstanding shares at the time of settlement, and (ii) the settlement of the total bond principal of $2500000 into shares. The shares will be issued at a recognized price of US $0.135 per share.

Bitcoin miner Cathedra Bitcoin: The Board of Directors has approved the settlement of the principal of some issued bonds into the company’s common shares

Interpretation of the news:

Cathedra Bitcoin Inc., a Bitcoin mining company, has recently announced the settlement of the principal of some of its issued bonds. The company’s board of directors has given its approval for the settlement which will be made in the form of common shares. The settlement will involve the conversion of the total bond principal of $2500000 into shares at a recognized price of US $0.135 per share. Furthermore, the conversion will not exceed 9.9% of the total outstanding shares at the time of settlement.

The announcement by Cathedra Bitcoin Inc. suggests that the company is focusing on alternative means to raise capital, rather than solely relying on traditional sources. Issuing shares in exchange for settlement of the bond principal is a sign that the company is taking a different approach to managing its financial obligations. The decision to convert the bond principal into shares reflects the company’s financial strategy, which may be a sound financial move when addressing the principle of the bonds.

The settlement of the bond principal is a win-win situation for both parties. The bondholders receive Cathedra Bitcoin Inc.’s shares instead of cash payment, providing them with ownership in the company. On the other hand, converting the bond principal into shares offers the company an opportunity to increase its shareholder base, which may help in raising more capital in the future. It is a strategic decision by the company, revealing its intentions to continue its growth trajectory in the Bitcoin mining industry.

In conclusion, Cathedra Bitcoin Inc.’s decision to settle the principle of some issued bonds into common shares suggests a different approach to raising capital. The conversion of the bond principal into shares provides an opportunity to increase its shareholder base, reflecting the company’s financial strategy. The move marks a new strategy in the company’s financial planning and could lead to more interest from investors who will be curious about the company’s fortunes.

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