It appears that Hive Blockchain (TSXV: HIVE) has nearly completed its previously announced at-the-market offering of US$100 million. The firm this morning provided the final figure raised in calendar Q3 from the financing.
The firm this morning indicated that a total of C$19.2 million, or US$15.2 million, was raised during the three month period ended September 30, 2021, via the sale of 5.0 million shares. The shares were sold at an average price of C$3.85, the lowest figure to date.
The figure follows the firm selling 2.4 million shares in the prior quarter at an average price of C$3.91 per share. Gross proceeds of C$9.3 million, or US$7.6 million, were raised during the calendar year second quarter.
Little space remains in the at the market financing overall, with a total of US$87.3 million, or a little over C$110 million, sold under the offering to date as per company filings. The current pace suggests the offering will be fulfilled by the end of 2021.
Funds from the financing are to be used for working capital and general corporate purposes, including funding current operations and repaying certain debts.
Hive Blockchain last traded at $3.70 on the TSX Venture.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.