Riot Platforms Completes $594.4 Million Convertible Notes Offering
Riot Platforms Successfully Completes Convertible Senior Notes Offering
Riot Platforms, Inc. (NASDAQ: RIOT) has announced the successful closure of its offering of 0.75% convertible senior notes due 2030, totaling an impressive $594.4 million. This marks a significant milestone for Riot as it continues to expand its operations in the Bitcoin ecosystem.
Details About the Offering
The recent offering involved the issuance of the 2030 Notes, of which a principal amount of $69.4 million was attributed to the partial exercise of the initial purchasers' option. The offering was conducted as a private placement, specifically targeting individuals believed to be qualified institutional buyers, in accordance with Rule 144A under the Securities Act of 1933.
Use of Proceeds from the Offering
After deducting initial purchasers' discounts and commissions, Riot Platforms announced that the net proceeds from this offering amounted to approximately $579.2 million. The company has already put these proceeds to work by acquiring more Bitcoin, emphasizing its commitment to strengthening its position within the cryptocurrency market.
About Riot Platforms, Inc.
Riot Platforms is committed to establishing itself as a leading infrastructure platform powered by Bitcoin. With operations primarily focused on a vertically integrated strategy that includes Bitcoin mining and digital infrastructure, Riot is strategically positioned in key locations, including central Texas and Kentucky. Additionally, it has its electrical engineering and fabrication operations based in Colorado.
Company's Vision and Mission
At Riot, the vision extends beyond mere financial growth; the company aims to positively impact various sectors, networks, and communities through innovation and strong partnerships. This holistic approach allows Riot to achieve top-tier execution and foster favorable outcomes.
Commitment to Bitcoin
Riot's focus on Bitcoin mining is at the core of its operations, reflecting the growing importance of cryptocurrency in today's digital economy. The company is continuously assessing market opportunities to further enhance its capabilities and deliver value to its stakeholders.
Contact Information
To learn more about Riot Platforms or for further inquiries, investors can reach out to Phil McPherson at 303-794-2000 ext. 110. Media inquiries can be directed to Alexis Brock at 303-794-2000 ext. 118.
Frequently Asked Questions
What was the total amount raised in the offering?
The total amount raised in the convertible senior notes offering was $594.4 million.
What is the maturity period for the 2030 Notes?
The convertible senior notes are due in 2030.
How does Riot intend to use the proceeds from the offering?
Riot Platforms plans to use the proceeds primarily for acquiring more Bitcoin.
What is the vision of Riot Platforms?
Riot aims to be the world's leading Bitcoin-driven infrastructure platform.
Who can I contact for investor relations at Riot?
Investors can contact Phil McPherson at 303-794-2000 ext. 110 for inquiries.
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