Bitcoin miner Argo Blockchain has announced the private placement of its common shares and accompanying warrants to an institutional investor. The transaction is expected to generate a total gain of approximately 6.50 million pounds (8.30 million dollars).
According to the announcement, Argo Blockchain will issue 57.80 million ordinary shares at a purchase price of £0.1125 per share and issue warrants to purchase an additional 57.80 million shares. Argo disclosed that the exercise price of the warrants is set at £0.1125 per share and the exercise period is five years.
The offering price is above the 30-day, 60-day and 90-day volume-weighted average price (VWAP) and 10% below the closing midpoint price on July 29, 2024. HC Wainwright & Co. acted as the exclusive placement agent for the private placement. Argo said the net proceeds from the placement will be used for Working Funds, general corporate purposes and debt repayment.
Argo Blockchain Secures $8.30 million in Private Equity of Its Common Stock and Attached Warrants
2024-07-31 04:39:38
Bitcoin miner argo blockchain announced one institution investordesk3cryptocurrencydesktopCrypto News
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