July 30, 2024
Argo Blockchain, a Bitcoin mining company listed on both Wall Street and the London Stock Exchange, has secured a £6.5 million private placement deal with an institutional investor. This agreement includes issuing 57,800,000 ordinary shares at £0.1125 each on the LSE, along with warrants for an additional 57,800,000 shares at the same price.
Project | Latest Raise | Latest Raise Date | Stage | Category |
|---|---|---|---|---|
Argo Blockchain | £6.5M | July 30, 2024 | Private Investment | Bitcoin |
The placement price is higher than Argo's recent trading averages but 10% lower than the closing price on July 29. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.
Argo intends to use the funds for working capital, general corporate purposes, and debt repayment. The company expects the shares to start trading on the LSE's Main Market around July 31, 2024.
About Argo
Argo Blockchain is a leading company in the field of Bitcoin mining and blockchain technologies. The company is publicly traded and listed on both the London Stock Exchange (LSE) and Wall Street. Argo Blockchain is recognized for its use of renewable energy sources to support the growth and development of blockchain technologies.
The company has a significant capacity in the global mining operations, contributing around 0.4% of the world’s Bitcoin mining network hashrate. It has access to approximately 115 MW of power capacity across Texas and Quebec. Argo Blockchain does not have any retail-oriented applications or mining programs. The only way to invest in Argo Blockchain is to purchase ordinary shares (traded on the London Stock Exchange) or the Company’s American Depositary Shares (ADSs) and unsecured notes (traded on the Nasdaq Stock Exchange).
Website: https://argoblockchain.com/
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