September 23, 2021
Argo Blockchain Plc (LSE: ARB; OTCQX: ARBKF), a global leader in sustainable blockchain infrastructure and cryptocurrency mining, has announced the pricing of its initial public offering of 7,500,000 American Depositary Shares (ADSs), representing an aggregate of 75,000,000 ordinary shares, at a public offering price of US$15 per ADS. The Company has raised aggregate gross proceeds of US$112,500,000, before deducting underwriting discounts and commissions. Each ADS offered represents 10 ordinary shares of Argo Blockchain. In addition, Argo Blockchain has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ADSs at the public offering price, less underwriting discounts, and commissions. The ADSs are being offered in a registered public offering in the United States. The ADSs are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ARBK” on September 23, 2021, and the Offering is expected to close on September 27, 2021, subject to the satisfaction of customary closing conditions.
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Stelios Saffos and Adam Gelardi and Chicago associate Scott Westhoff, with New York associate Roger Yarett, and Chicago associate Ariel Redlich. Advice was also provided on UK securities matters by London partner Anna Ngo; on data privacy & security matters by Bay Area counsel Robert Blamires, with Bay Area associate Adriana Beach; on IP matters by New York/Washington, D.C. partner Jenny Cieplak; on environmental matters by New York associate Andrew Westgate and Benjamin Einhouse; on sanctions matters by Washington, D.C. partner Eric Volkman, with Washington, D.C. associate Matthew Gregory; on FCPA matters by Washington, D.C. partner Daniel Dominguez, with Washington, D.C. associate Emani Walks; on tax matters by New York partner Jiyeon Lee-Lim, with London associate Ted Gkoo; and on benefits & compensation matters by New York partner Jennifer Pepin.