Matador Allocates 10% of ATM Proceeds to Bitcoin Collateral

Matador Technologies has amended its US$100 million secured convertible note facility to expand its at-the-market equity capacity. The amendment introduces an alternative permitted at the market framework, allowing Matador to conduct at-the-market offerings under Canadian shelf prospectus documents before uplisting to a senior U.S. stock exchange.

Under this new framework, 10% of the net proceeds from each qualifying common share sale will be used to purchase Bitcoin, which must be deposited as additional collateral into the facility's controlled account within five business days after month-end. This move does not increase Matador's C$80 million base shelf or C$30 million ATM Program but removes a Facility constraint on using that capacity.

The amendment has received conditional approval from the TSX Venture Exchange and will provide Matador with a broader funding framework, including expanded at-the-market equity capacity. This development is significant for Matador as it seeks to expand its operations and increase its presence in the market.