Summary by Futu AI
On June 13, 2024, Riot Platforms, Inc. announced a non-binding proposal for a business combination with Bitfarms Ltd. Riot Platforms clarified that the proposal does not constitute an offer to Bitfarms shareholders and that there is no certainty that a definitive offer will be made or accepted, nor that any agreement will be reached between the two companies. The announcement included cautionary notes regarding forward-looking statements, indicating that actual results could differ materially from expectations due to various risks and uncertainties. Riot Platforms stated it does not intend to provide updates on the proposed transaction unless required by law. The company also emphasized that the communication is for informational purposes only and not a solicitation of a proxy or an offer to purchase securities. Riot Platforms and Bitfarms 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.