Hut 8 Mining Looks To Raise US$150 Million At $8.55 Per Share
Hut 8 Mining (TSX: HUT) this morning revealed the pricing of its public offering. Originally announced last night after the closing bell, the firm has now indicated the details behind the planned offering.
The firm intends to sell a total of 17.6 million shares of the company under the offering at a price of US$8.55 per share, with no warrants attached to the financing. A total of US$150.1 million is expected to be raised under the offering, before a 15% over-allotment option.
The financing is slated to close September 17, subject to customary conditions.
Funds raised from the offering are to be used to “fund capital investments in digital assets mining equipment,” as well as for working capital and general corporate purposes. The firm also outlines that funds may be used for acquisitions, joint ventures, and partnerships.
The announcement follows the firm last week revealing it produced 326 bitcoin in August, at an average of 10.5 bitcoin per day.
Hut 8 Mining last traded at $13.14 on the TSX, and $9.04 on the Nasdaq.
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