Riot Platforms Secures $100M Loan
Ticker: RIOT · Form: 8-K · Filed: 2024-12-11T00:00:00.000Z
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.
From the Filing
0001104659-24-127656.txt : 20241211 0001104659-24-127656.hdr.sgml : 20241211 20241211170026 ACCESSION NUMBER: 0001104659-24-127656 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 20 CONFORMED PERIOD OF REPORT: 20241209 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: Financial Statements and Exhibits FILED AS OF DATE: 20241211 DATE AS OF CHANGE: 20241211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Riot Platforms, Inc. CENTRAL INDEX KEY: 0001167419 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 841553387 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33675 FILM NUMBER: 241542259 BUSINESS ADDRESS: STREET 1: 3855 AMBROSIA STREET, SUITE 301 CITY: CASTLE ROCK STATE: CO ZIP: 80109 BUSINESS PHONE: 303-794-2000 MAIL ADDRESS: STREET 1: 3855 AMBROSIA STREET, SUITE 301 CITY: CASTLE ROCK STATE: CO ZIP: 80109 FORMER COMPANY: FORMER CONFORMED NAME: Riot Blockchain, Inc. DATE OF NAME CHANGE: 20171004 FORMER COMPANY: FORMER CONFORMED NAME: Bioptix, Inc. DATE OF NAME CHANGE: 20161201 FORMER COMPANY: FORMER CONFORMED NAME: Venaxis, Inc. DATE OF NAME CHANGE: 20121218 8-K 1 tm2430044d5_8k.htm FORM 8-K false 0001167419 0001167419 2024-12-09 2024-12-09 iso4217:USD xbrli:shares iso4217:USD xbrli:shares        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): December 9, 2024   Riot Platforms, Inc.   (Exact name of registrant as specified in its charter)   Nevada   001-33675   84-1553387 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   3855 Ambrosia Street , Suite 301 80109 Castle Rock , CO   (Address of principal executive offices) (Zip Code)   Registrant’s telephone number, including area code: ( 303 ) 794-2000       N/A (Former name or former address, if changed since last report)   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 Exchange Act:   Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, no par value per share RIOT Nasdaq Capital Market   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.   Conver