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Crypto Mining Company Argo Blockchain Heads to Nasdaq

Crypto Mining Company Argo Blockchain Heads to Nasdaq

Argo Blockchain is offering 7.5 million American Depositary Shares on the Nasdaq World Market.

Argo Blockchain’s IPO would possibly maybe furthermore elevate over $145 million.

Argo Blockchain Goes Are living on Nasdaq 

Argo Blockchain has launched an Initial Public Providing, the company supplied as of late.

Fresh RNS:

Argo is overjoyed to speak that it has commenced an IPO of seven,500,000 American Depositary Shares (“ADSs”), representing an aggregate of 75,000,000 habitual shares. #ARB $ARBK$ARBKF

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— Argo (@ArgoBlockchain) September 14, 2021

The crypto mining company, which is furthermore listed on the London Stock Alternate, is offering 7.5 million American Depositary Shares on the Nasdaq World Market beneath the image ARBK. American Depositary Shares are a model of equity share for an organization based entirely foreign that lists on an American stock alternate. They’re denominated in U.S. dollars; 7.5 million ADSs is the the same of 75 million of the company’s basic stock.

Argo’s shares are for the time being trading at about £1.40 ($1.94) in London after a challenging upward thrust early Tuesday. On the most up-to-date prices, the Nasdaq IPO would possibly maybe furthermore elevate £105 million ($145.5 million).

Earlier this yr, Argo obtained DPN LLC. The deal noticed Argo uncover a explain of land in West Texas, where it’s for the time being building a mining facility. The company has since been raising funds to originate the power, including £32 million ($44 million) in loans from Galaxy Digital, the property company speed by Mike Novogratz.

Argo’s market capitalization is for the time being £533.4 million ($739 million). The company has been exploring the different of a U.S. record since July.

Argo is now not basically the simplest mining company to search round for to the U.S. this yr: in June, the Canadian companies Hive Blockchain and Bitfarms both listed on Nasdaq, while many other companies bear relocated to Texas amid a crackdown on the field in China.

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