Riot Blockchain to sell up to $500 million worth of shares

The company will use the proceeds to develop existing and future projects

03.04.2022 - 07:30

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What’s new? The mining company Riot Blockchain (RIOT) has filed a prospectus for the sale of temporary shares worth up to $500 million with the US Securities and Exchange Commission (SEC). The proceeds from the sale of the shares will be used for general corporate purposes, which include investments in the company’s existing and future projects.

RIOT’s share sale prospectus

What does the prospectus say? The company currently has no intention of selling all of its registered securities. RIOT has entered into a share sale agreement with Cantor Fitzgerald, B. Riley Securities, BTIG, Roth Capital Partners, DA Davidson, Macquarie Capital (US), and Northland Securities.

What is known about RIOT? This is one of the largest companies in the United States that is engaged in the mining of cryptocurrencies. RIOT shares are traded on the Nasdaq stock exchange. The company owns data centers in the states of Texas and New York.

Earlier, Riot Blockchain provided an annual report to the SEC, which said that for 2021 the company had revenue of $213,2 million, an increase of 1 665% over the year before.

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