Summary by Futu AI
On May 28, 2024, Riot Platforms, Inc. announced a non-binding proposal for a business combination with Bitfarms Ltd. Riot Platforms clarified that this proposal does not constitute an offer to Bitfarms shareholders and there is no certainty that a definitive offer will be made or accepted. The company also stated that it is not obligated to provide updates on the proposed transaction unless required by law. Riot Platforms included cautionary notes about forward-looking statements, indicating that actual results could differ materially from expectations due to various risks and uncertainties. These statements are not guarantees of future performance and should not be relied upon as such. Riot Platforms has made it clear that this announcement is informational and not a solicitation of an offer to buy securities or a proxy from any shareholder. The company may file regulatory filings with the SEC and Canadian securities regulatory authorities in connection with the proposed transaction, and investors are urged to read these documents carefully if and when they become available.
