Canadian mining firm Hut 8 Mining Corp plans to raise C $ 500 million (~ $ 396.5 million at the time of writing) from the securities offering. This is stated in the prospectus for the Ontario Securities Commission.
Instruments can take the form of common stocks, bonds, including convertible bonds, and warrants, and combinations thereof. The placement will take place on the Toronto Stock Exchange within 25 months after the registration of the document.
The company will use the raised funds to cover the negative cash flow.
In 2020, Hut 8 raised $ 8.3 million through the sale of a share in the capital for the purchase of miners from MicroBT. Recall that in early 2021, the company took out a loan of $ 11.8 million at 16.5% per annum to buy bitcoin miners.
502026895 Short Form Prospectus Hut 8 by ForkLog on Scribd
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