UPDATE: Argo Blockchain raises GBP27 million to fund Pluto investment

Mon, 08th Mar 2021 19:06

Argo Blockchain PLC - cryptocurrency mining firm - Completes raising of GBP26.8 million through placing of 9.6 million shares, PrimaryBid subscription of 3.4 million shares and subscription of 361,977 shares by US investors, at a price of 200 pence each.

Proceeds will go towards investing in Pluto Digital Assets PLC as part of Pluto's current funding round in order to maintain Argo's shareholding in Pluto at 25%, as well as working capital purposes.

Argo Blockchain will have 381.8 million shares issued overall.

Current stock price: 250.49 pence, closed up 14% on Monday

Year-to-date change: six times higher

By Dayo Laniyan; dayolaniyan@alliancenews.com

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