Argo Blockchain PLC Proposed Public Offering (6891R)
09 November 2021 - 1:02AM
UK Regulatory
TIDMARB
RNS Number : 6891R
Argo Blockchain PLC
08 November 2021
Press release
8 November 2021
Argo Blockchain PLC
("Argo" or "the Company")
Argo Announces Proposed Public Offering of 8.75% Senior Notes
Due 2026
Argo Blockchain, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), announced today that it has filed a
registration statement on Form F-1 with the United States
Securities and Exchange Commission (the "SEC") relating to its
proposed public offering (the "Offering") of 8.75% Senior Notes due
2026 (the "Notes"). Argo plans to offer the Notes in minimum
denominations of $25.00 and integral multiples of $25.00 in excess
thereof. The Company intends to use the net proceeds from this
Offering for general corporate purposes, the construction of, and
purchase of mining machines for, its Texas cryptocurrency mining
facility and potentially acquisitions of, or investments in,
complementary businesses in the cryptocurrency and blockchain
technology industries.
In connection with the Offering, Argo has applied to list the
Notes on the Nasdaq Global Select Market ("Nasdaq") under the
symbol "ARBKL." If approved for listing, trading on Nasdaq is
expected to commence within 30 business days after the Notes are
first issued.
The Company and this issuance of Notes received a "B" rating
from Egan-Jones Ratings Company, an independent, unaffiliated
rating agency.
B. Riley Securities, Inc., D.A. Davidson & Co., Ladenburg
Thalmann & Co. Inc. and William Blair & Co., L.L.C. will
act as joint book-running managers for the Offering. EF Hutton,
division of Benchmark Investments, LLC will act as lead manager for
the Offering. Aegis Capital Corp., Alexander Capital L.P., Colliers
Securities LLC, Northland Securities, Inc., Revere Securities LLC,
Wedbush Securities Inc. and B.C. Ziegler & Company will act as
co-managers for the Offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The Notes may only be
offered and sold under the Company's registration statement on Form
F-1, which has been filed with the Securities and Exchange
Commission ("SEC") but has not yet become effective. The Notes may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. A copy of the
registration statement is available on the SEC's website at
www.sec.gov. When available, copies of the preliminary prospectus
related to the Offering may be obtained from the offices of B.
Riley Securities, Inc. at 1300 North 17th Street, Suite 1400,
Arlington, VA 22209, by calling (703) 312--9580 or by emailing
prospectuses@brileyfin.com.
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.
For further information please contact:
Argo Blockchain
Peter Wall via Tancredi +44 203 434
Chief Executive 2334
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finnCap Ltd
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Corporate Finance +44 207 220 0500
Jonny Franklin-Adams
Tim Harper
Joint Corporate Broker
Sunila de Silva
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Tennyson Securities
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Joint Corporate Broker +44 207 186 9030
Peter Krens
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OTC Markets
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Jonathan Dickson +44 204 526 4581
jonathan@otcmarkets.com +44 7731 815 896
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Tancredi Intelligent Communication
UK & Europe Media Relations
------------------------------------ -------------------------
Emma Valgimigli +44 7727 180 873
Emma Hodges +44 7861 995 628
Salamander Davoudi +44 7957 549 906
argoblock@tancredigroup.com
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release constitute
"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, including statements regarding the proposed
Offering and use of proceeds thereof. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future
are forward-looking statements. These forward-looking statements
are identified by their use of terms and phrases such as "may,"
"expect," "estimate," "project," "plan," "believe," "intend,"
"achievable," "anticipate," "will," "continue," "potential,"
"should," "could," and similar terms and phrases. These statements
are based on certain assumptions made by the Company based on
management's experience and perception of historical trends,
current conditions, anticipated future developments and other
factors believed to be appropriate. Such statements are subject to
a number of assumptions, risks and uncertainties, many of which are
beyond the control of the Company, which may cause actual results
to differ materially from those implied or expressed by the
forward-looking statements, including the uncertainties related to
market conditions and the completion of the public offering on the
anticipated terms or at all as well as the ability and extent to
which the Company can acquire mining machines on acceptable terms,
the Company's build out of its Texas cryptocurrency mining facility
or the Company's ability to identify acquisition and investment
targets. Any forward-looking statement speaks only as of the date
on which such statement is made, and the Company undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
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.
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END
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