Riot Platforms drops after announcing convertible offering to buy more bitcoin

Bitdeer Technologies

09/12/2024 13:47

(Updates with expected offering terms)
** * Shares of Riot Platforms  RIOT.O  down 5.9% to $12.19
premarket as it seeks capital to acquire additional bitcoin
 BTC= 
    ** Colorado-based bitcoin miner  offering privately $500 mln
6-yr convertible bonds (CBs)
  
    ** Active bookrunners Citigroup, BTIG and Cantor marketing
CBs with 0.75%-1.25% coupon, 30%-35% convertible premium,
according to term sheet seen by Reuters
  
    ** Offering slated to price Mon after market close
  
    ** 
  
    
      
    
    
      
    
  
    
      
    
  
    
      
    
  

(Reporting by Lance Tupper and Chuck Mikolajczak
Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))