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Argo Blockchain Plans To Raise $112.5 Million Through The Sale Of American Depositary Shares
Summary: Argo Blockchain, a London-based cryptocurrency miner listed in the UK, announced that it will raise $112.5 million in US stock sales. Argo plans to sell 7.5 million American Depositary Shares (ADS) at a price of $15 per share. Before deducting underwriting discounts and commissions, the company predicts a total revenue of $112,500,000. Argo has begun ...
Argo Blockchain, a London-based cryptocurrency miner listed in the UK, announced that it will raise $112.5 million in US stock sales.
Argo plans to sell 7.5 million American Depositary Shares (ADS) at a price of $15 per share. Before deducting underwriting discounts and commissions, the company predicts a total revenue of $112,500,000.
Argo has begun trading on the Nasdaq Global Market today under the ticker "ARBK". The company stated that the public offering is expected to end on September 27, 2021, subject to customary closing conditions.
As part of an expansion plan, Argo bought land in Texas for new cryptocurrency mining facilities. The company has borrowed 32 million pounds ($44 million) from Galaxy Digital since June.
BY Mary Liu
Tags: ARBK,Argo Blockchain,Nasdaq
Link: Argo Blockchain Plans To Raise $112.5 Million Through The Sale Of American Depositary Shares [Copy]
