Matador Technologies Inc. raised C$1,644,300 through a private placement to invest in their Bitcoin reserve.
The private placement involved the issuance of 2,652,097 units at a price of $0.62 per unit, with proceeds going towards increasing their Bitcoin reserve.
The units consist of one common share and one-half of one common share purchase warrant, with each Warrant allowing the holder to acquire an additional common share at $0.77 within twelve months.
Arrington Capital made a CAD$1.5 million investment in Matador Technologies in the first tranche of the offering, showing support for the Bitcoin ecosystem and digital asset development.