Argo Blockchain Raises £535K in Private Placement

TL;DR

Argo Blockchain just raised £535K from an institutional investor via a share placement.

AI Summary

Argo Blockchain plc announced a private placement with an institutional investor on July 30, 2024. The company will issue approximately 10.7 million ordinary shares at a price of £0.05 per share, raising gross proceeds of approximately £535,000. This placement is part of Argo's ongoing efforts to strengthen its balance sheet and support its growth initiatives.

Why It Matters

This capital infusion helps Argo Blockchain manage its finances and continue its operations in the cryptocurrency mining sector.

Risk Assessment

Risk Level: medium — The company is raising capital through a private placement, which can indicate financial pressures or a need for immediate funding.

Key Numbers

• £535,000 — Gross Proceeds (Raised from private placement with an institutional investor.)
• 10.7 million — Shares Issued (Ordinary shares placed at £0.05 each.)

Key Players & Entities

• Argo Blockchain plc (company) — Registrant
• £0.05 (dollar_amount) — Price per share in private placement
• £535,000 (dollar_amount) — Gross proceeds from private placement
• 10.7 million (dollar_amount) — Number of ordinary shares issued
• July 30, 2024 (date) — Date of announcement

FAQ

Filing Documents

• a3582y.htm (6-K) — 25KB
• 0001654954-24-009577.txt ( ) — 26KB

Forward looking statements

Forward looking statements   This announcement contains "forward-looking statements," which can be identified by words like "may," "will," "likely," "should," "expect," "anticipate," "future," "plan," "believe," "intend," "goal," "seek," "estimate," "project," "continue" and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The information in this announcement about future plans and objectives of the Company, including the expectation to complete the Private Placement and the expected expenditure of the net proceeds of the Private Placement, are forward-looking statements. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking risks and uncertainties listed in the risk factors set forth in our Annual Report and Financial Statements and Form 20-F for the year ended December 31, 2023, and our Interim Report as of March 31, 2024.   For further information please contact:   Argo Blockchain plc     Investor Relations   ir@argoblockchain.com       About Argo:   Argo Blockchain plc is a dual-listed (LSE:

SIGNATURES

SIGNATURES   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.   Date: 30 July,2024 ARGO BLOCKCHAIN PLC By: /s/ Jim MacCallum Name: Jim MacCallum Title: Chief Financial Officer          

View Full Filing

View this 6-K filing on SEC EDGAR