Cash-Strapped Supernova Seeks Loan Amid £1.5M Debt

Supernova Digital Assets, a UK-based crypto treasury company, is struggling to survive after revealing it has only £3,000 in cash against £1.132 million of current liabilities. The firm's audited annual results showed a decline in cash from £113,000 to £3,000 over the six-month reporting period.

The company's treasury includes 32,771 SOL valued at £2 million, alongside other assets such as BTC and TAO. Supernova prefers replacement financing over further digital-asset sales, but the terms and timing of any new funding remain undisclosed.

Discussions with an alternative lender are reportedly advanced, targeting lower borrowing costs and improved loan-to-value terms. However, completion is not assured, and no details have been disclosed about the proposed principal, rate, collateral package, covenants, or timetable.