Neptune Digital To Raise $40 Million Via Private Placement

Neptune Dash Assets Corp (TSXV: NDA) this morning announced that it will be conducting a financing. Pegged at $40 million, the company is reportedly conducting the financing with institutional investors.

Under the terms of the financing, the company will look to raise funds at a price of $1.35 per unit. Each unit contains one common share and one half of a common share purchase warrant, with each warrant valid for a period of three years at a price of $1.75 per share.

The offering, lead by HC Wainwright & Co, will see net proceeds used for the development of a 5 MW clean tech bitcoin mining facility, as well as the purchase of mining rigs, proof of stake investments, and general and administrative expenses.

The offering is expected to close April 16, 2021.

Neptune Digital Assets last traded at $1.88 on the TSX Venture.

Information for this briefing was found via Sedar and Neptune Digital Assets. 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.

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