← Hut 8 · FinancingEdit
American Bitcoin Corp private placement of Class A common stock
Jun 27, 2025 · ClosedTerms of issuance
Instrument
Private placement
Principal
$220.1M
Net proceeds
$215.0M
Issue date
Jun 27, 2025
Maturity
Seniority
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
104,220,084
Stock price / market cap (as of issue date)
n/ano price on or before the issue date
Use of proceeds
Bitcoin accumulation / miner purchases
Other financing outstanding (excl. this instrument)
Convertible senior note (Coatue Tactical Solutions Lending) ($150.0M), Two Prime revolving credit facility ($200.0M), Senior Secured Notes due 2042 — River Bend (Hut 8 DC LLC) ($3.25B), Senior Secured Notes due 2042 — Beacon Point (Beacon Point DC LLC) ($4.25B), Senior secured revolving credit facility (four-year) ($1.07B)
— of which existing debt
$8.92B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
ClosedAmerican Bitcoin Corp closes $220 million private placement of Class A common stock
Jun 27, 2025