Bitcoin Mining Firm Keel Raises $458 million through Convertible Promissory Notes

BlockBeats News, June 10th, Nasdaq-listed Bitcoin mining firm Keel Infrastructure (formerly Bitfarms) has completed a $458 million convertible senior notes offering, with a coupon rate of 1.25%, maturing in 2032, and an initial conversion price of approximately $7.41 (a 25% premium to the June 4th closing price).

Part of the raised funds will be used to purchase capped call options to hedge the dilution risk upon note conversion. Keel stated that existing liquidity is expected to be sufficient to support the development of the Panther Creek, Sharon, and Moses Lake projects through leasing. This fundraising will enhance the company's flexibility for general corporate purposes such as long-term equipment deposits or data center project letter-of-credit collateral.

Fuente:BlockBeats

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