Hut 8 Mining Corp (TSX: HUT) appears to be gearing up for further funding. The company this morning announced that it has filed a preliminary base shelf prospectus pegged at $500.0 million.
The base shelf prospectus will enable the company to offer up to $500.0 million of common shares, debt securities, subscription receipts, warrants, convertible securities, or units from time to time for a period of 25 months from the date of becoming effective. While it does not mean that the company is looking to raise funds via an offering right now, it signifies that the company likely will in the coming months.
The base shelf prospectus was filed in all provinces and territories in Canada, while a corresponding registration statement was filed with the US Securities and Exchange Commission, enabling funds to be raised south of the border as well.
Hut 8 Mining last traded at $10.55 on the TSX.
Information for this briefing was found via Sedar and Hut 8 Mining Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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.