Summary by Futu AI
Riot Platforms, Inc., a leading cryptocurrency mining company, has announced a prospectus supplement for the sale of up to $750,000,000 of its common stock. The sales agreement, dated August 9, 2023, involves sales agents including Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Northland Securities, Inc., Moelis & Company LLC, and Stifel Nicolaus Canada Inc. The common stock is traded on the Nasdaq Capital Market under the symbol 'RIOT'. As of February 20, 2024, the sales price was $16.04 per share. The agreement allows Riot Platforms to offer and sell shares from time to time through the Sales Agents, who will use commercially reasonable efforts to sell the stock at market prices or negotiated transactions. The offering may be suspended by either party. The company plans to use the net proceeds for general corporate purposes, which may include capital expenditures, strategic acquisitions, and investments in Bitcoin mining projects. The date of the prospectus supplement is February 26, 2024.