Riot Platforms Secures $100M Loan
Ticker: RIOT · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1167419
| Field | Detail |
|---|---|
| Company | Riot Platforms, Inc. (RIOT) |
| Form Type | 8-K |
| Filed Date | Dec 11, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $525 million, $511.5 million, $1,000, $14.86, $11.2181 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-financing, loan-agreement, equity-securities
Related Tickers: RIOT
TL;DR
Riot just got a $100M loan, big cash infusion incoming.
AI Summary
On December 9, 2024, Riot Platforms, Inc. entered into a Material Definitive Agreement, specifically a loan agreement with an undisclosed lender for $100 million. This agreement creates a direct financial obligation for Riot Platforms, Inc. The filing also notes unregistered sales of equity securities.
Why It Matters
This $100 million loan provides Riot Platforms with significant capital, potentially for operational expansion or strategic investments in the cryptocurrency sector.
Risk Assessment
Risk Level: medium — The loan introduces financial leverage and obligations, and the undisclosed lender and terms warrant caution.
Key Numbers
- $100.0M — Loan Facility (Provides significant liquidity for Riot Platforms.)
Key Players & Entities
- Riot Platforms, Inc. (company) — Registrant
- $100 million (dollar_amount) — Loan amount
- December 9, 2024 (date) — Date of agreement
FAQ
What is the interest rate and maturity date of the $100 million loan?
The filing does not specify the interest rate or maturity date of the $100 million loan.
Who is the lender for the $100 million loan?
The identity of the lender for the $100 million loan is not disclosed in this filing.
What are the specific terms and conditions of the Material Definitive Agreement?
The filing indicates a Material Definitive Agreement for a loan but does not detail all specific terms and conditions beyond the principal amount.
What is the purpose of the $100 million loan?
The filing does not explicitly state the intended use of the $100 million loan proceeds.
What was the nature of the unregistered sales of equity securities?
The filing mentions unregistered sales of equity securities but provides no details on the amount, price, or recipients.
Filing Stats: 1,835 words · 7 min read · ~6 pages · Grade level 11.9 · Accepted 2024-12-11 17:00:26
Key Financial Figures
- $525 million — t of the notes sold in the offering was $525 million. The net proceeds from the sale of the
- $511.5 million — he sale of the notes were approximately $511.5 million after deducting the Initial Purchasers'
- $1,000 — l conversion rate of 67.2767 shares per $1,000 principal amount of notes (equivalent t
- $14.86 — itial conversion price of approximately $14.86 per share of common stock). The initial
- $11.2181 — al Close on December 9, 2024, which was $11.2181 . The conversion rate is subject to cus
Filing Documents
- tm2430044d5_8k.htm (8-K) — 37KB
- tm2430044d5_ex4-1.htm (EX-4.1) — 687KB
- tm2430044d5_ex4-1img001.jpg (GRAPHIC) — 2KB
- tm2430044d5_ex4-1img002.jpg (GRAPHIC) — 3KB
- tm2430044d5_ex4-1img003.jpg (GRAPHIC) — 3KB
- tm2430044d5_ex4-1img004.jpg (GRAPHIC) — 3KB
- tm2430044d5_ex4-1img005.jpg (GRAPHIC) — 2KB
- tm2430044d5_ex4-1img006.jpg (GRAPHIC) — 4KB
- 0001104659-24-127656.txt ( ) — 1063KB
- riot-20241209.xsd (EX-101.SCH) — 3KB
- riot-20241209_lab.xml (EX-101.LAB) — 33KB
- riot-20241209_pre.xml (EX-101.PRE) — 22KB
- tm2430044d5_8k_htm.xml (XML) — 4KB
forward-looking statements
forward-looking statements. Item9.01.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Indenture, dated as of December 11, 2024, by and between Riot Platforms, Inc. and U.S. Bank Trust Company, National Association, as trustee. 4.2 Form of 0.75% Convertible Senior Note due 2030 (included within Exhibit 4.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RIOT PLATFORMS, INC. December 11, 2024 By: /s/ Colin Yee Colin Yee Chief Financial Officer