IREN proposes $875 million convertible notes offering due 2031
TORONTO - Belgravia Hartford Capital Inc. (CSE:BLGV) (OTC:BLGVF), a $27.22 million market cap company that has seen its stock surge 376.92% year-to-date, announced Wednesday it has closed a $5 million USD convertible debenture financing with Round13 Digital Asset Fund, with proceeds designated entirely for Bitcoin purchases.
The two-year debenture carries a 4% annual interest rate, payable at the end of the term. Both principal and accrued interest can be converted to Belgravia common shares at CAD $0.71 per share, representing a 40% premium to the company’s seven-day volume-weighted average trading price as announced on July 16, 2025.
The financing includes no warrants, commissions, or finder’s fees. Belgravia plans to use the full amount to expand its current Bitcoin holdings beyond its existing 40.77 Bitcoin position. According to InvestingPro data, the company holds more cash than debt on its balance sheet, though its current ratio of 0.37 indicates potential liquidity challenges.
The agreement also contains a performance-triggered conversion feature. If Belgravia’s share price equals or exceeds CAD $1.42 (200% of the conversion price) for 20 consecutive trading days prior to maturity, 20% of the outstanding principal and proportionate accrued interest will automatically convert to common shares.
This financing follows Belgravia’s recent Bitcoin acquisition strategy initiated over the past two months. The company indicated it will announce details once the full $5 million Bitcoin purchase is completed.
According to the press release statement, the convertible debenture structure was chosen partly to reduce potential shareholder dilution compared to other financing options. InvestingPro analysis indicates the stock trades with high volatility (Beta: 1.52), with 10+ additional insights available to subscribers regarding the company’s financial health and market position.
In other recent news, Belgravia Hartford Capital Inc. has expanded its cryptocurrency holdings by purchasing an additional 1.5316351 bitcoin. This acquisition, valued at $160,842.59, increases the company’s total bitcoin holdings to approximately 6.39 bitcoin. The company reported that the purchase was made using cash reserves from shareholder-exercised convertible securities. The average cost for this transaction was $105,013.65 per bitcoin, including fees. This move was executed through Coinsquare’s regulated OTC trading desk. These developments reflect Belgravia Hartford’s continued interest in cryptocurrency as part of its financial strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.