09:18 AM EDT, 07/23/2025 (MT Newswires) -- Matador Technologies ( MATAF ) , a bitcoin ecosystem company that saw its shares drop 6.5% on Tuesday, signed an arm's length agreement for a secured convertible note facility with ATW Partners that allows the company to issue up to US$100 million in convertible notes.

According to a statement released on Wednesday, the facility provides a structured funding mechanism designed to support the company's stated objective of increasing its Bitcoin holdings. It noted US$10.5 million will be funded at initial closing, while US$89.5 million of extra capacity remains available subject to customary conditions, including execution of a registration-rights agreement and receipt of all required regulatory approvals.

The facility will be used exclusively to purchase Bitcoin, reinforcing Matador's strategy to become a top 20 corporate holder globally.

Deven Soni, CEO of Matador Technologies ( MATAF ), said: "This financing represents meaningful progress toward our long-term Bitcoin accumulation goals. It provides the company with capital to increase our Bitcoin holdings in a way that minimizes immediate dilution and aligns with our broader capital strategy."

Matador said this funding supports its long-term BTC strategy, including: acquiring up to 1,000 BTC on or before 2026; reaching 6,000 BTC on or before 2027; and a long-term objective to hold 1% of Bitcoin's supply and be a top 20 corporate holder globally.