Investor Presentaiton
$500M
ATM Equity Program and Principal Debt Maturities(1)
Received $1.2B net proceeds from issuances under the at-the-market ("ATM") equity offering program in Q4; remaining ~$138M capacity
Total $2.2B debt outstanding at weighted average annual fixed interest rate 1.6%, ~$36M annualized fixed interest expense
$1,050M
I
$650M
I
I
Q1 Q2 Q3 Q4
Q1 Q2 Q3 Q4 Q1
Q2 Q3
Q4 Q1 Q2 Q3
Q4
Q1 Q2 Q3 Q4
2024
2025
2026
2027
0.000% Senior
Instrument
Convertible
2028
6.125% Senior
Secured Notes
Maturity
Annualized
Interest Expense
0.750% Senior
Convertible
Notes
Dec 2025
$4.9M
(1) Excludes $10.5M principal amount of other long-term secured debt. Please refer to the Q3 2023 10-Q for further detail.
Notes
Feb 2027
Jun 2028(3)
$0.0M
$30.6M
(2) Bitcoin "halving", which is expected to next occur in April 2024, refers to the decrease in the block reward from 6.25 to 3.125 bitcoins per block, resulting in fewer bitcoins generated per block.
(3) Please refer to the Q3 2023 10-Q for the springing maturity provisions that may accelerate the maturity date of the senior secured notes.
25
Expected Bitcoin
Halving (Q2 2024)(2)
I
וחView entire presentation