Hut 8 Corp. Files 8-K: Material Agreement, Equity Sales

Ticker: HUT · Form: 8-K · Filed: 2024-06-24T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, equity-sale, financial-obligation

TL;DR

Hut 8 Corp. filed an 8-K detailing a material agreement and unregistered equity sales.

AI Summary

On June 21, 2024, Hut 8 Corp. entered into a material definitive agreement related to a direct financial obligation. The company also disclosed unregistered sales of equity securities and provided a Regulation FD disclosure. The filing includes financial statements and exhibits.

Why It Matters

This filing indicates significant corporate actions by Hut 8 Corp., including new financial obligations and equity transactions, which could impact its financial structure and stock performance.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered equity sales, which can introduce financial and operational risks.

Key Players & Entities

FAQ

What type of material definitive agreement did Hut 8 Corp. enter into?

The filing indicates Hut 8 Corp. entered into a material definitive agreement that created a direct financial obligation or an obligation under an off-balance sheet arrangement.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on June 21, 2024.

What are the principal executive offices of Hut 8 Corp.?

The principal executive offices are located at 1101 Brickell Avenue, Suite 1500, Miami, Florida 33131.

Besides the material agreement, what other significant event is disclosed?

The filing also discloses unregistered sales of equity securities.

What is Hut 8 Corp.'s state of incorporation and SEC file number?

Hut 8 Corp. is incorporated in Delaware and its SEC file number is 001-41864.

From the Filing

0001558370-24-009418.txt : 20240624 0001558370-24-009418.hdr.sgml : 20240624 20240624063447 ACCESSION NUMBER: 0001558370-24-009418 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240621 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Unregistered Sales of Equity Securities ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240624 DATE AS OF CHANGE: 20240624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Hut 8 Corp. CENTRAL INDEX KEY: 0001964789 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 922056803 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41864 FILM NUMBER: 241061927 BUSINESS ADDRESS: STREET 1: 1101 BRICKELL AVENUE, SUITE 1500 CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 305-224-6427 MAIL ADDRESS: STREET 1: 1101 BRICKELL AVENUE, SUITE 1500 CITY: MIAMI STATE: FL ZIP: 33131 8-K 1 hut-20240621x8k.htm 8-K 0001964789 false 0001964789 2024-06-21 2024-06-21 ​ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 21 , 2024 Hut 8 Corp. (Exact name of registrant as specified in its charter) ​ ​ ​ Delaware 001-41864 92-2056803 (State or other Jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) ​ ​ ​ 1101 Brickell Avenue , Suite 1500 , Miami , Florida 33131 (Address of Principal Executive Offices) (Zip Code) Registrant’s Telephone Number, Including Area Code: ( 305 ) 224 6427 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: ​ ​ ​ Title of each class Trading Name of each exchange on which registered Common Stock, par value $0.01 per share HUT The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒ ​ ​ ​ ​ Item 1.01 Entry into a Material Definitive Agreement. On June 21, 2024, Hut 8 Corp., a Delaware corporation (the “Company”), entered into a Convertible Note Purchase Agreement (the “Purchase Agreement”) with Coatue Tactical Solutions Lending Holdings AIV 3 LP, a Delaware limited partnership (the “Purchaser”), and Hut 8 Mining Corp., a corporation incorporated under the laws of British Columbia and a wholly-owned subsidiary of the Company (the “Guarantor”), providing for the purchase and sale of a convertible note (the “Note”) in the principal amount of $150.0 million (such amount, together with any

View on Read The Filing