Argo Blockchain (NASDAQ:ARBK) has priced its public offering of $40M of 8.75% Senior Notes due 2026. The notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof. Underwriters have been granted a 30-day option to purchase up to an additional $6M of the notes. Total net proceeds from the offering are estimated to be ~$38.60M. Net proceeds will be used for general corporate purposes, the construction of, and purchase of mining machines for, the company's Texas cryptocurrency mining facility and potentially acquisitions of, or investments in, complementary businesses in the cryptocurrency and blockchain technology industries. 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 under the symbol "ARBKL."
