Riot Platforms To Raise $525 Million Via Private Convertible Debt To Purchase Bitcoins
On Tuesday, Bitcoin mining company Riot Platforms, Inc (NASDAQ:RIOT) priced its upsized private offering of $525 million 0.75% convertible senior notes due 2030.
Riot also granted the notes’ initial purchasers an option to purchase up to an additional $75 million in aggregate principal amount of the notes.
The offering was upsized from $500 million and will close on December 11, 2024.
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Riot intends to use the net proceeds from the offering to acquire additional bitcoins and for general corporate purposes.
Riot estimates that the net proceeds from the sale of the notes will be approximately $511.5 million if the additional option is not exercised.
The notes will bear interest at 0.75% per year, payable semiannually in …
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