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Bitfarms | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC announcement ·  Jun 7 04:19
Summary by Futu AI
On June 5, 2024, Riot Platforms, Inc. ('Riot') announced the acquisition of additional shares in Bitfarms Ltd., increasing its beneficial ownership to approximately 12% of the issued and outstanding common shares. Riot acquired 1,460,278 common shares through normal course purchases on the Nasdaq Stock Market and other open market trades, at a weighted average price of around US$2.45 per share. Prior to this transaction, Riot owned 11.63% of Bitfarms. Following the acquisition, Riot's total ownership rose to 47,830,440 common shares. Riot also expressed its intention to call a special meeting of Bitfarms' shareholders to nominate new directors to the board, citing concerns about the board's governance. Riot will continue to review its investment and may adjust its position based on various factors, including discussions...Show More
On June 5, 2024, Riot Platforms, Inc. ('Riot') announced the acquisition of additional shares in Bitfarms Ltd., increasing its beneficial ownership to approximately 12% of the issued and outstanding common shares. Riot acquired 1,460,278 common shares through normal course purchases on the Nasdaq Stock Market and other open market trades, at a weighted average price of around US$2.45 per share. Prior to this transaction, Riot owned 11.63% of Bitfarms. Following the acquisition, Riot's total ownership rose to 47,830,440 common shares. Riot also expressed its intention to call a special meeting of Bitfarms' shareholders to nominate new directors to the board, citing concerns about the board's governance. Riot will continue to review its investment and may adjust its position based on various factors, including discussions with Bitfarms and market conditions. The press release clarified that it should not be construed as an offer to buy or sell securities. Riot will file an Early Warning Report as required by securities laws, available on the SEDAR+ website. Riot Platforms, a Nevada corporation, is a Bitcoin mining and digital infrastructure company with operations in Texas and Colorado.

This announcement is a separate document:

Doc 1

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