Argo Blockchain plc entered a $5M subscription facility with controlling shareholder Growler, drawing $2.5M initially and converting $1.26M in prior payments into new ordinary shares.
Key takeaways
Argo Blockchain plc entered into a subscription facility agreement with Growler Mining Tuscaloosa, LLC for up to $5,000,000 on March 26, 2026.
The Company drew an initial tranche of $2,500,000 and received the proceeds simultaneously with the execution of the Agreement.
Prior payments totaling $1,259,297.68 made by Growler will be converted into 427,170 new ADSs at a subscription price of $2.948 per ADS.
The subscription price for the Initial Tranche is $2.948 per ADS, representing 100% of the five-day average Nasdaq Official Closing Price for the week of March 16-20, 2026.
Following the transaction, Growler will hold approximately 88.59% of the Company's enlarged issued ordinary share capital.
The Facility includes an exchange cap limiting issuable shares to 19.99% of ordinary shares outstanding unless shareholder approval is obtained.