Supernova Digital Assets Seeks Loan to Survive $1.5M Debt Amid Cash Crunch
UK-based Supernova Digital Assets is in a precarious financial situation, holding just £3,000 in cash against £1.132 million of current liabilities at April 30.
The company's unaudited results show total assets of £2.944 million and equity of £1.812 million, with holdings including 32,771 SOL valued at £2 million, 5.38 BTC valued at £302,000, and 1,065 TAO valued at £254,000.
Supernova's management prefers replacement financing to limit further crypto sales, but terms and timing remain undisclosed.
The company's existing AMINA Bank facility provides up to $1 million at SOFR plus 8%, has a rolling one-month maturity, and is secured by SOL. Discussions with an unnamed alternative provider are advanced, targeting lower borrowing costs and improved loan-to-value terms.