Argo Blockchain PLC, a global leader in cryptocurrency mining, has successfully raised £7.8 million ($9.9 million) through a placing of 38,064,000 new ordinary shares at a price per share of £0.205 to certain institutional investors. The net proceeds from the placing will be utilized for working capital, repayment of indebtedness, and general corporate purposes. The new ordinary shares will rank pari passu with the existing ordinary shares and are expected to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange PLC on 11 January 2024.
Tennyson Securities acted as the Company's agent for the placing. Following the Private Placement Admission and the previously announced PSU Admission, the Company will have a total of 577,001,363 Ordinary Shares in issue. This figure may be used by the Company's shareholders for the calculations to determine whether they are required to notify their interest in the Company under the FCA Disclosure Guidance and Transparency Rules.
For further information, interested parties can contact Argo Blockchain's Investor Relations or the appointed corporate and joint brokers. Argo Blockchain is a global leader in cryptocurrency mining and continues to make strategic moves to support its operations and growth in the industry.