ETHZilla redeems $516M principal of convertible notes at 117% premium on Dec 30, 2025

FORUM MARKETS Inc

Redeemed all $516,148,000 principal of convertible notes at 117% (plus $87.7M premium and $1.8M accrued interest).
Convertible notes were secured by approx. $509M cash and 11,374.89 ETH held in restricted accounts.
August 2025 SPA and September 2025 amendment agreements terminated as a result of the redemption.
No material early termination penalties incurred; redemption was mandatory per Dec 9, 2025 Redemption Agreement.

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