An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Argo Blockchain Plc (LSE: ARB; OTCQX: ARBKF) has successfully closed its public offering of 8,525,000 American Depositary Shares (ADSs), equivalent to 85,250,000 ordinary shares, at a price of $15 per ADS. This offering generated approximately $127.9 million in gross proceeds. The offering included 7,500,000 ADSs initially announced and an additional 1,025,000 ADSs exercised by underwriters. The ADSs began trading on Nasdaq on September 23, 2021. Jefferies and Barclays served as joint book-running managers for this transaction.
Positive
Raised approximately $127.9 million in gross proceeds from the offering.
Successfully expanded the number of ADSs from the initial offering size.
Negative
Potential dilution of existing shareholders due to the increase in shares outstanding.
LONDON--(BUSINESS WIRE)--
Argo Blockchain Plc (LSE: ARB; OTCQX: ARBKF), (“Argo” or the “Company”), a global leader in cryptocurrency mining, is pleased to announce the closing of its offering of an aggregate of 8,525,000 American Depositary Shares ("ADSs") representing 85,250,000 ordinary shares at a public offering price of $15 per ADS, for aggregate proceeds of approximately $127,875,000, before deducting underwriting discounts and commissions.
The number of ADS included in the offering comprises the 7,500,000 ADSs referred to in the Company’s announcement of the pricing of the offering, released on September 22, 2021, together with a further 1,025,000 ADSs, which have been purchased by the underwriters pursuant to the option to purchase additional ADSs referred to in that announcement.
Each ADS offered represents 10 ordinary shares of Argo Blockchain. The ADSs were offered in a registered public offering in the United States (the "Offering"). Argo Blockchain’s ADSs began trading on the Nasdaq Global Select Market under the ticker symbol “ARBK” on September 23, 2021.
Jefferies and Barclays are acting as joint book-running managers for the Offering. Canaccord Genuity and Stifel GMP are acting as co-lead managers for the Offering. Compass Point, D.A. Davidson & Co., Ladenburg Thalmann, Roth Capital Partners, finnCap Ltd. and Tennyson Securities are acting as co-managers for the Offering.
The Offering was made only by means of a prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of the preliminary prospectus relating to and describing the terms of the proposed Offering may be obtained from any of the following sources:
Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com, or
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or by email at barclaysprospectus@broadridge.com.
A registration statement relating to these securities was declared effective on September 22, 2021 by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.
This announcement contains inside information.
About Argo
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the Nasdaq Global Select Market in the United States under the ticker: ARBK.
