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Argo Blockchain ( (GB:ARB) ) has shared an announcement.
Argo Blockchain has announced updates on its proposed recapitalization plan, which aims to address its short and medium-term capital needs. The plan involves negotiations with Growler Mining for a senior secured loan, which could result in Growler acquiring a significant shareholding in Argo. The plan’s implementation is subject to court sanction and shareholder approval, with potential implications for current equity holders and bondholders. If the plan is not approved, Argo may consider alternative solutions, including insolvency processes.
More about Argo Blockchain
Argo Blockchain plc is a dual-listed blockchain technology company focused on large-scale cryptocurrency mining. It operates a mining facility in Quebec and has offices in the US, Canada, and the UK. The company’s operations are predominantly powered by renewable energy, and it became the first climate positive cryptocurrency mining company in 2021.
Average Trading Volume: 5,666,663
Technical Sentiment Signal: Sell
Current Market Cap: £15.42M
Find detailed analytics on ARB stock on TipRanks’ Stock Analysis page.