Argo Blockchain Plc
(NOTE: This is NOT an IPO. The offering is an uplift from the London Stock Exchange Main Market (the “LSE”), where the shares already trade under the symbol “ARB,” and on the OTCQX® Best Market (“OTCQX”), where the shares trade under the symbol “ARBKF.” On Sept. 10, 2021, the last reported sale price of our ordinary shares on the LSE was £1.334, or $1.84 per ordinary share based on the exchange rate of £1.00 to $1.38 on that date. Based on the last reported sale price of our ordinary shares on the LSE on Sept. 10, 2021, we have assumed an initial public offering price of $18.40 per ADS.
We are a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. We mine using purpose-built computers (or “mining machines”) to solve complex cryptographic algorithms (or “verify” or “solve” blocks) in the blockchain in exchange for rewards and fees denominated in the native token of that blockchain network.
Our mining strategy is to cost-effectively acquire the latest generation mining machines and install them in North American facilities that utilize predominantly renewable and inexpensive power. We have a fleet of more than 21,000 machines mining Bitcoin and other cryptocurrencies and can generate more than 1,075 petahash per second, of which approximately 215 petahash is located in facilities we recently acquired in Quebec, Canada, and approximately 860 petahash is located in hosted facilities.
|Industry:||COMPUTER PROCESSING & DATA PREPARATION|
|Address||9th Floor 16 Great Queen Street, London WC2B 5DG, England|
|Phone Number||+44 20 788 400 3403|
|View Prospectus:||Argo Blockchain Plc|
|Revenues||$14.4 mil (last 12 months)|
|Net Income||$8.6 mil (last 12 months)|
|Price range||$18.40 - $18.40|
|Est. $ Volume||$138.0 mil|
|Manager / Joint Managers||Jefferies/ Barclays/ Canaccord Genuity/ Stifel GMP|
|CO-Managers||Compass Point/ D.A. Davidson/ Ladenburg Thalmann/ Roth Capital Partners/ finnCap/ Tennyson Securities |
|Expected To Trade:||9/23/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|