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

SEC announcement ·  Jun 15 04:29
Summary by Futu AI
On June 13, 2024, Riot Platforms, Inc. (Riot), a Bitcoin mining and digital infrastructure company, announced the acquisition of additional shares in Bitfarms Ltd., increasing its beneficial ownership to approximately 14% of the issued and outstanding common shares. The acquisition involved 1,432,063 common shares purchased through normal course transactions on the Nasdaq Stock Market and other open market trades, with a weighted average price of around US$2.70 per share. Prior to this transaction, Riot owned approximately 13.65% of Bitfarms' common shares. Riot also expressed its intention to call for a special meeting of Bitfarms' shareholders to nominate new independent directors to the board, citing concerns over the board's governance. The company will continue to review its investment and may adjust its position based on various factors, including market conditions and discussions with Bitfarms' board and advisors. Riot has filed an Early Warning Report in accordance with Canadian securities laws, which is available on the SEDAR+ website.
On June 13, 2024, Riot Platforms, Inc. (Riot), a Bitcoin mining and digital infrastructure company, announced the acquisition of additional shares in Bitfarms Ltd., increasing its beneficial ownership to approximately 14% of the issued and outstanding common shares. The acquisition involved 1,432,063 common shares purchased through normal course transactions on the Nasdaq Stock Market and other open market trades, with a weighted average price of around US$2.70 per share. Prior to this transaction, Riot owned approximately 13.65% of Bitfarms' common shares. Riot also expressed its intention to call for a special meeting of Bitfarms' shareholders to nominate new independent directors to the board, citing concerns over the board's governance. The company will continue to review its investment and may adjust its position based on various factors, including market conditions and discussions with Bitfarms' board and advisors. Riot has filed an Early Warning Report in accordance with Canadian securities laws, which is available on the SEDAR+ website.
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