CryptoNewsBreaks – HIVE Blockchain Technologies Ltd. (TSX.V: HIVE) (NASDAQ: HIVE) (FSE: HBF) Announces $100M ATM Equity Program
Sep 7, 2022
HIVE Blockchain Technologies (TSX.V: HIVE) (NASDAQ: HIVE) (FSE: HBF) has entered into an at-the-market (“ATM”) offering agreement with H.C. Wainwright & Co. According to the announcement, the agreement outlines the implementation of an equity offering program allowing H.C. Wainwright & Co. to issue and sell common shares of the company that totaling up to $100 million. As the agent, H.C. Wainwright would receive a cash commission of 3% on the gross proceeds raised through the ATM program. HIVE anticipates using the funds raised through the program to support the growth and development of its current mining operations; it may also use a portion of the proceeds for working capital and general corporate purposes. The company noted that it plans to “capitalize on opportunities which may exist or may be brought to its attention relating to distressed asset sales of mining equipment throughout the mining ecosystem.” The announcement notes that prices for the common shares may vary, depending on trading prices at the time of sale, and volume and timing of any sales will be decided upon by HIVE management in according with the ATM agreement. According to the announcement, either company can terminate the agreement at any time.
To view the full press release, visit https://ccw.fm/8iNUD
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a green-energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. The company is building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green-energy-powered data center facilities in Canada, Sweden and Iceland, where it works to source only green energy to mine on the cloud and generate rewards of both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Those shares provide investors with exposure to the operating margins of digital currency mining as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multiuse servers, the company believes its shares offer investors an attractive way to gain exposure to the cryptocurrency space. The company believes that it has, in the past, demonstrated its ability to raise capital and obtain above average returns on invested capital while also consistently being rated as one of the industry’s top-performing mining companies for efficiency. For more information about the company, please visit www.HiveBlockchain.com.
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