Bitcoin mining company Marathon Digital plans to complete approximately $14.25 million in private equity financing

ChainCatcher news, Bitcoin mining company Marathon Digital has reached a stock purchase agreement with investors to privately sell 15,000 shares of Series A redeemable convertible preferred stock at a purchase price of $952.38 per share, equivalent to approximately a 5% original issue discount on the $1,000 par value per share. At any time after the company receives shareholder approval to increase its authorized shares, holders can choose to convert the Series A preferred stock into the company's common stock at an initial conversion price of $14.52 per share. H.C. Wainwright & Co. will act as the exclusive placement agent, and the total net proceeds from this offering are expected to be approximately $14.25 million. This offering is expected to be completed around June 8, subject to customary closing conditions. (source link)