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Bitfarms | SC 13D/A: Statement of acquisition of beneficial ownership by individuals (Amendment)-Riot Platforms, Inc.(14.9%)

SEC announcement ·  Jun 24 21:00
Summary by Futu AI
Riot Platforms, Inc., a Nevada-based corporation, has filed an amendment to its Schedule 13D with the United States Securities and Exchange Commission, detailing its ownership and transactions related to the common shares of Bitfarms Ltd. The amendment, dated June 24, 2024, reports that Riot Platforms owns approximately 14.9% of Bitfarms' common shares, with an aggregate purchase price of $132,162,323, funded from working capital. Riot Platforms has also issued a requisition letter to Bitfarms' board of directors to call a special meeting of shareholders with the intent to elect new independent board members. Additionally, Riot Platforms has withdrawn its previous proposal to acquire Bitfarms at $2.30 per share and is seeking to cease-trade the shareholder rights plan, commonly referred to as a 'Poison Pill', adopted by Bitfarms' board on June 10, 2024. The company has also issued a press release on the same date, announcing the requisition of the special meeting and its readiness to engage with a reconstituted board regarding a potential business combination.
Riot Platforms, Inc., a Nevada-based corporation, has filed an amendment to its Schedule 13D with the United States Securities and Exchange Commission, detailing its ownership and transactions related to the common shares of Bitfarms Ltd. The amendment, dated June 24, 2024, reports that Riot Platforms owns approximately 14.9% of Bitfarms' common shares, with an aggregate purchase price of $132,162,323, funded from working capital. Riot Platforms has also issued a requisition letter to Bitfarms' board of directors to call a special meeting of shareholders with the intent to elect new independent board members. Additionally, Riot Platforms has withdrawn its previous proposal to acquire Bitfarms at $2.30 per share and is seeking to cease-trade the shareholder rights plan, commonly referred to as a 'Poison Pill', adopted by Bitfarms' board on June 10, 2024. The company has also issued a press release on the same date, announcing the requisition of the special meeting and its readiness to engage with a reconstituted board regarding a potential business combination.
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