Matador Technologies (TSXV:MATA, OTCQB:MATAF) entered Amendment No. 2 to its US$100 million secured convertible note facility with a US-based institutional investor, creating an alternative definition of a “Permitted ATM” that allows expanded use of its existing at-the-market equity capacity.

Under the new option, before any U.S. senior exchange uplisting, at-the-market offerings conducted solely under Canadian shelf prospectus documents can qualify as Permitted ATMs if 10% of net proceeds from each qualifying common share sale is used to purchase Bitcoin. This Bitcoin must be deposited as additional collateral into the Facility’s controlled account within five business days after month-end. The alternative framework has no aggregate gross proceeds cap or limit on successive or concurrent ATMs while notes remain outstanding and has received conditional TSX Venture Exchange approval. The amendment does not increase Matador’s C$80 million base shelf or C$30 million ATM Program but removes Facility constraints on using that capacity.

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