TIDMARB
RNS Number : 3822S
Argo Blockchain PLC
15 November 2021
Press release
15 November 2021
The following amendment has been made to the Pricing of Senior
Unsecured Notes announcement released by Argo Blockchain Plc on 15
November 2021 under RNS number 3101S.
The sentence " The total net proceeds from the Offering are
approximately $38,600,000 million (after deducting underwriting
discounts and commissions, but before other fees and estimated
expenses)." has been replaced by "The total net proceeds from the
Offering are approximately $38,600,000 (after deducting
underwriting discounts and commissions, but before other fees and
estimated expenses)."
All other details remain unchanged.
Argo Blockchain PLC
("Argo" or "the Company")
Argo Announces Pricing of $40 Million Aggregate Principal Amount
of its 8.75% Senior Unsecured Notes Due 2026
Argo Blockchain, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), today announced that it has priced its
previously announced public offering (the "Offering") of $40.0
million aggregate principal amount of 8.75% Senior Notes due 2026
(the "Notes"). The total net proceeds from the Offering are
approximately $38,600,000 (after deducting underwriting discounts
and commissions, but before other fees and estimated expenses).
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.
The Company has granted the underwriters a 30-day option to
purchase up to an additional $6.0 million aggregate principal
amount of Notes. The Notes will be issued in minimum denominations
of $25.00 and integral multiples of $25.00 in excess thereof. The
Company and this issuance of Notes received a "B" rating from
Egan-Jones Ratings Company, an independent, unaffiliated rating
agency. The Offering is expected to close on November 17, 2021.
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.
B. Riley Securities, Inc., D.A. Davidson & Co., EF Hutton,
division of Benchmark Investments, LLC, Ladenburg Thalmann &
Co. Inc. and William Blair & Co., L.L.C. are acting as joint
book-running managers for the Offering. Aegis Capital Corp.,
Alexander Capital L.P., Northland Securities, Inc., Revere
Securities LLC, Wedbush Securities Inc. and B.C. Ziegler &
Company are acting 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, as amended, which has been filed with the Securities and
Exchange Commission ("SEC") and declared effective on November 12,
2021. A copy of the registration statement is available on the
SEC's website at www.sec.gov . Copies of the preliminary prospectus
and the free writing prospectus relating 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 . The
final terms of the offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.
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.
For further information please contact:
Argo Blockchain
Peter Wall via Tancredi +44 203 434 2334
Chief Executive
------------------------------
finnCap Ltd
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Corporate Finance
Jonny Franklin-Adams
Tim Harper
Joint Corporate Broker
Sunila de Silva +44 207 220 0500
------------------------------
Tennyson Securities
------------------------------
Joint Corporate Broker
Peter Krens +44 207 186 9030
------------------------------
OTC Markets
------------------------------
Jonathan Dickson +44 204 526 4581
jonathan@otcmarkets.com +44 7731 815 896
------------------------------
Tancredi Intelligent Communication
UK & Europe Media Relations
------------------------------
Emma Valgimigli
Emma Hodges +44 7727 180 873
Salamander Davoudi +44 7861 995 628
argoblock@tancredigroup.com +44 7957 549 906
------------------------------
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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