DDC Enterprise plans 13.5% perpetual preferred share offering at $20 per share
DDC•DDC Enterprise proposed an offering of at least $35 million in Series A 13.5% perpetual cumulative preferred shares at $20 each, compared with a $25 face amount. Proceeds would fund Bitcoin purchases, corporate uses and potential acquisitions, with up to 20% available to repay existing notes.
1. Proposed share offering
DDC Enterprise proposed an illustrative offering of at least $35 million in Series A 13.5% perpetual cumulative preferred shares, priced at $20 per share against a $25 face amount. The proposed terms indicate an annual yield of 16.88%.
2. Use of proceeds
Proceeds would fund Bitcoin purchases, corporate uses and potential acquisitions; up to 20% of gross proceeds may be used to repay existing notes. A segregated cash reserve would cover at least 12 months of daily dividend payments, and the shares would carry one-time Bitcoin-linked cash bonus dividends totaling up to $4 per share.
