Riot Platforms, Inc. (RIOT), Monday said that it intends to privately offer $500 million convertible senior notes due 2030. The Bitcoin mining and digital infrastructure company's shares were down more than 6 percent in pre-market trading.
The company also expects to grant to the initial purchasers an option to purchase up to an additional $75 million of the notes.
Riot intends to use the net proceeds from this offering to acquire additional bitcoin and for general corporate purposes.
Riot Platforms stock had closed at $12.95, up 5.11 percent on Friday. It has traded in the range of $6.36 - $18.75 in the last 1 year.
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