THELOGICALINDIAN - Argo Blockchain is alms 75 actor American Depositary Shares on the Nasdaq Global Market
Argo Blockchain’s IPO could accession over $145 million.
Argo Blockchain Goes Live on Nasdaq
Argo Blockchain has launched an Initial Public Offering, the close announced today.
The crypto mining firm, which is additionally listed on the London Banal Exchange, is alms 7.5 actor American Depositary Shares on the Nasdaq Global Market beneath the attribute ARBK. American Depositary Shares are a blazon of disinterestedness allotment for a aggregation based across that lists on an American banal exchange. They’re denominated in U.S. dollars; 7.5 actor ADSs is the agnate of 75 actor of the firm’s accepted stock.
Argo’s shares are currently trading at about £1.40 ($1.94) in London afterwards a aciculate acceleration aboriginal Tuesday. At the accepted prices, the Nasdaq IPO could accession £105 actor ($145.5 million).
Earlier this year, Argo acquired DPN LLC. The accord saw Argo accept a artifice of acreage in West Texas, area it’s currently architecture a mining facility. The close has back been adopting funds to assemble the facility, including £32 actor ($44 million) in loans from Galaxy Digital, the assets close run by Mike Novogratz.
Argo’s bazaar assets is currently £533.4 actor ($739 million). The close has been exploring the achievability of a U.S. advertisement back July.
Argo is not the alone mining close to attending to the U.S. this year: in June, the Canadian firms Hive Blockchain and Bitfarms both listed on Nasdaq, while abounding added firms accept relocated to Texas amidst a crackdown on the area in China.
