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It won’t be higher than market price, and the SP might be held/suspended just before to align markets, but if they have brokered advance sales those will be at a discount. Remember the amount raised for the company is from first sale of the shares not their re-sale price on the open market.
I don't think it's quite as simple as the issue price being the same as the current UK (or OTC) share price. Typically there's a "book building" process whereby interest is gauged at various pricing levels and the price is set accordingly. It won't necessarily be at the highest price indicated as feasible by the book building process as that could risk a fall on opening which is viewed as negative. However as ARB does already have a known market value (the current share price) there might be some expectation that the NASDAQ offer price would reflect this market reality.
I can't imagine the price would have been set at the $1.84 that was the price a few days ago when the F1 was issued. That would not be good if the OTC price on IPO day was $2.40+...
@ Blubay and @LimpingAlong, regards this 'alledged' disappointment, perhaps this is mere FUD. Either that or he/she is not very well informed. Given the trading around the close of business yesterday, it is ludicrous, IMO, to consider disappointment but that is only my opinion and time will tell. (I've been wrong before so no disrespect intended, just my personal view.) ATB
Am I wrong in saying the IPO SP is not decided yet, it will be whatever the SP will be on day of release ie based on today's price £1.65x1.38=2.227 usd x 10 shares = 22.77 usd. Shoot away if I'm wrong
Yeah I’m not sure I understand what’s he’s saying either? I don’t foresee any disappointment.
Here's the upcoming IPO from Nasdaq website.
https://www.nasdaq.com/market-activity/ipos/overview?dealId=1144401-98970
Why do you feel we will be disappointed?
Yes I am hoping we raise more than the $18.40 per ads, I hope we average a lot more than this, I have a feeling though we are going to be disappointed
@Jimmy170, don't start dreaming, I do enough of that for everybody but I try to avoid predictions. Seriously though, I do believe we will have phases 1 & 2 completed before the end of next year. So far, we have spent an unspecified sum on Texas but I think we have paid some of the major aspects; the land and the electricity supply are paid, I think. Lots to pay still but it looks like they are sorting financing some/all the rigs too.
The way this week has turned out, we might well raise more than the $100 (net) expected.
Now my dream/s, not predictions, are based on achieving £3.50 by the end of this year and £7.00 by the end of September 2022. Well, maybe my dreams are swayed a bit by my financial planning - I'd like to top slice in a year and I don't want to use too many golden tickets. Call me Mr Scrooge. I will need much more dosh in 5 years' time for all my dreams to come true. ATB
Well we do have 860 petahash in hosted facilities, so could make sense.
Would be nice to get the whole lot as extra machines though
Thanks everyone for your reply’s, hopefully by the sounds of it, we might have enough money to kit out the initial 100mw, but I think I remember him saying, he may move some of the existing machines to the new facility or did I dream this?
Argostrategy?
Why not setup the initial 200 mw. Then let saylor invest 500 million toward the remaining 600 mw and give Saylor 20% of the bitcoins as long as those machines are running.
Yep, that's what I get for relying on memory, apologies.
Amanensia: they have planned 100MW in H1, and 100MW in H2. But it’s a moving feast, so expect different plans :)
Just a reminder what it says in the prospectus:
"We are developing a 200 MW mining facility on the newly acquired land. Phase 1 of this development is expected to be completed in the first half of 2022, and includes facilities that are expected to support 100 MW of power capacity at an estimated cost of $50 million. Phase 2 of this development is expected to be completed in the second half of 2022, is expected to support an additional 100 MW of power capacity, at an estimated cost of $30 million. These estimates do not include the cost of the mining machines"
Oh 800MW of avialable power but a 200MW facility - apologies, my mistake.
Isn't it planned to be an 800MW facility eventually, with just 200MW in the first phase? Or am I misremembering.
We don't know how much will be raised yet, and building Texas and kitting it out with machines are two slightly different things. There's the loan facility to pay off, part of which is against build and part operating capital. PW also talked about machines being available at substantial discount now against on earlier plans due to China. And there's rising BTC hodl, increasing profits, in a debt free company, so I don't think there's any concern about delivery in 2022 at this point. The Texas development was planned in two phases anyway, so maybe that's the confusion. It's a 200MW facility, in two phases I think. But no doubt we'll hear more about it very soon.
Just found the RNS reference the miner updates…
https://www.lse.co.uk/rns/ARB/may-update-mining-capacity-defi-investment-fcfxdsx64m5hu2b.html
It costs between $30-40m per EH and that’s if the prices are still low since the China Exodus! MARA paid $120m for 30000 miners recently and that will provide 3.0 EH. Smaller orders will probably cost more per miner. There’s still the cost of the facility and immersion cooling (alone could add $10m). So it’s understandable that Argo may consider buying 3.0 EH and host 3 EH to bring in the much needed revenues to cover operational costs and avoid selling Bitcoin.
I’m hoping, though, that PW comes out and informs shareholders that they’re fill 6.0 EH with miners to keep up with its ‘peer’ miners.
It should be noted that the 80 PH of miners in July have yet to be installed and that 530 PW are due to be installed by mid Oct according to a recent RNS.
@jimmy
"Someone on here or Stocktwits said the ipo would’nt raise enough to kit out Texas and not sure if it was the same post or not, but it was suggested that Argo was aiming for 100mw and not 200mw which was originally said, now I remember Peter wall saying something like it costs $250000 - $500000 per MW, so using the upper figure, that would surely be $100m for 200mw, has anyone heard any news about this?"
Yea that's about right, $250k for 200mw.. So around 120k for 100 mw maybe 100k if there's any going cheap.
There are options though.. Once the facility is built we can rent it out to homeless miners.. Although I think there will be enough money in the pot to get texas well and truly operational.. Just not the full 200mw..
Someone on here or Stocktwits said the ipo would’nt raise enough to kit out Texas and not sure if it was the same post or not, but it was suggested that Argo was aiming for 100mw and not 200mw which was originally said, now I remember Peter wall saying something like it costs $250000 - $500000 per MW, so using the upper figure, that would surely be $100m for 200mw, has anyone heard any news about this?