The Ontario Securities Commission has cleared Matador to raise $58 million, which it intends to use to expand its Bitcoin treasury.
Bitcoin financial services firm Matador Technologies has received the regulatory green light to sell up to 80 million Canadian dollars ($58.4 million) worth of company shares, which it will use to help reach its goal of owning 1,000 Bitcoin by the end of 2026.
Matador said on Tuesday that the Ontario Securities Commission has permitted it to issue $58.4 million worth of common shares, warrants, subscription receipts, debt securities, or units over a period of 25 months.
Matador CEO Deven Soni said the firm is “focused on increasing Bitcoin per share over time” and would “continue to target a treasury balance of 1,000 Bitcoin by the end of 2026.”
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