Argo Blockchain PLC pricing senior unsecured notes. In a press release issued today, November 15, Argo Blockchain, a global leader in cryptocurrency mining. Announced that it has priced its previously disclosed public offering (the “Offering”) of $40.0 million. Aggregate principal amount of 8.75 percent Senior Notes due 2026 (the “Offering” (the “Notes”). Overall, approximately $38,600,000 in net revenues will received from the Offering. (After deducting underwriting discounts and commissions, but before other fees and estimated expenses).
The construction of and purchase of mining machines for its Texas cryptocurrency mining facility. And the acquisition or investment in complementary businesses in the cryptocurrency and blockchain technology industries. The Company intends to use the net proceeds from this Offering for general corporate purposes. And for the construction and purchase of mining machines for its Texas cryptocurrency mining facility.
Additionally, for a period of 30 days, the Company has granted the underwriters the option to purchase. An additional $6.0 million aggregate principal amount of Notes from the Company. The Notes will issued in denominations starting at $25.00 and increasing. In integral multiples of $25.00 in excess of that amount. It is also worth noting that Egan-Jones Ratings Company, an independent and unaffiliated rating firm. Gave the Company and this particular issuing of Notes a “B” grade. The Offering projected to close on November 17, 2021, according to current expectations.
For the purpose of the Offering, Argo has filed an application with Nasdaq to list the Notes. Under the ticker symbol “ARBKL,” which will used on the Nasdaq Global Select Market (“Nasdaq”). If the Notes accepted for listing on Nasdaq, trading on the stock exchange. It also expected to begin within 30 business days of the Notes’ initial issuance.
ADVICE ON FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of Section 27A.Of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All comments in this press release other than statements of historical fact are forward-looking statements. Achievable, Expected, Continued, Potential, Should and Could. Are some of the terms and phrases that also identify forward-looking statements.
These statements are based on the Company’s assumptions about past trends, current conditions. Expected future events, and other factors. These forward-looking statements are subject to a number of assumptions. Risks and uncertainties, many of which are beyond the Company’s control. Which may also cause actual results to differ materially from those implied. Or expressed by the forward-looking statements.
Moreover, except to the extent required by law, the Company disclaims any obligation to revise. Or update any forward-looking statement made by it. Resulting from new information, future events, or any combination of the foregoing.
A global leader in bitcoin mining, they also operate. One of the largest and most efficient renewable energy enterprises on the planet. A listing of the company’s stock on the Nasdaq Global Select Market. It can found in the United States. It trades on the Main Market of the London Stock Exchange. Under the ticker ARBK and also on the Alternative Investment Market under the ticker ARB.