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Trade Argo Blockchain Shares Your Capital Is At Risk

Argo Blockchain Shares Rise Following News of Senior Note Offering

Updated: 8 Nov 2021

Shares of cryptocurrency miner Argo Blockchain have gathered pace Monday after it announced it has filed a registration statement with the SEC relating to a proposed public offering.

The company plans to raise around $57.5 million through the offering of senior notes with an 8.75% interest rate due in November 2026.

Argo plans to offer the notes in minimum denominations of $25 and multiples of $25. The company said it will use the money raised for general corporate purposes, the construction of and purchase of mining machines for its Texas cryptocurrency mining facility, and potential acquisitions of or investments in businesses in the cryptocurrency and blockchain technology industries.

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The company has applied to list the Notes on the Nasdaq Global Select Market under the symbol ARBKL.

Argo Blockchain shares are up over 9%, trading around 134.6p following the announcement. However, its share price rally will also be linked to Bitcoins price rise on Monday. Last week the company's shares edged higher after its Q3 earnings beat analysts’ expectations.

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