- Aquarius AI (AQUA) has closed its C$3.5M private placement with participation from Luxor Technology
- The company issued 35,911,700 units priced at $0.10 per unit for gross proceeds of $3,591,170
- Luxor is providing Aquarius with hashrate management and consulting services and views its strategic investment as the next stage in strengthening their relationship
- Aquarius is a digital advertising technology company
- Aquarius AI (AQUA) is down by 5.26 per cent and is currently trading at $0.18 per share
Aquarius AI (AQUA) has closed its C$3.5M private placement with participation from Luxor Technology.
The company issued 35,911,700 units priced at $0.10 per unit for gross proceeds of $3,591,170.
Each unit consists of one common share and one-half of one share purchase warrant.
Each warrant entitles the holder to purchase one share for $0.20 for 24 months from the completion of the private placement, subject to acceleration with 30 days’ notice.
Luxor is providing Aquarius with hashrate management and consulting services and views its strategic investment as the next stage in strengthening their relationship.
Aquarius insiders purchased a combined total of 2,500,000 units for $250,000, which is equivalent to an 8.33-per-cent participation rate.
Alex Brammer, Luxor’s Vice President of Business Development, stated,
“At Luxor we look for opportunities to closely align ourselves with partners that we assess to be high-potential and strategically advantaged early in their growth curve. Aqua checks all the boxes; reputable operations with strong management, public market support and the wherewithal to scale quickly and flexibly.
We at Luxor are pleased to invest in Aqua to demonstrate our endorsement and support. Aqua is as nimble as a start-up, but with the access to capital markets that comes with being publicly listed – this is a lethal combination and one we’re excited to go to work with.
We continue to seek out and evaluate the highest growth areas to scale our clients’ mining operations as intelligently as possible.”
Owen Sagness, Aquarius’ Director of Operations, added,
“We are delighted to close this round of funding and we welcome both Luxor and other supportive investors to the company as we begin our HODL journey into Bitcoin mining #AquaApes.”
Luxor is a U.S.-based Bitcoin mining technology and services company.
Aquarius is a digital advertising technology company.
Aquarius AI (AQUA) is down by 5.26 per cent and is currently trading at $0.18 per share as of 11:20 am ET.