- Digihost Technology (DGHI) has received approval to undertake a normal course issuer bid program
- Digihost will purchase up to 1,219,762 of its subordinate voting shares for cancellation
- The company may purchase up to 5 per cent of its issued and outstanding shares
- Digihost purchased a total of 164,533 subordinate voting shares at an average price of C$4.60 per share during its previous normal course issuer bid
- Digihost is a blockchain technology company primarily focused on Bitcoin mining
- Digihost Technology Inc. (DGHI) opened trading at C$1.83 per share
Digihost Technology (DGHI) has received approval to undertake a normal course issuer bid program.
Under the NCIB, the company will purchase up to 1,219,762 of its subordinate voting shares for cancellation.
Michel Amar, Chairman and CEO of Digihost commented on the program.
“Digihost is commencing the bid because it believes that from time to time the market price of its subordinate voting shares may not fully reflect the underlying value of the company’s business, and that the repurchase of its subordinate voting shares at those times would be in the best interests of its shareholders.”
“Additionally, the company has recently reduced its outstanding debt by US$2M and intends to be completely debt free within the next 12 months,” he added.
The company currently has 27,685,913 subordinate voting shares issued and outstanding. The maximum number of subordinate voting shares that may be purchased represents approximately 5 per cent of its issued and outstanding shares. Shares repurchased under the bid will be cancelled.
Digihost received approval to begin the bid on May 25, 2022. The NCIB will terminate on May 25, 2023. The company reserves the right to terminate the bid at any time.
Digihost purchased a total of 164,533 post-consolidation subordinate voting shares at an average purchase price of C$4.60 per share during its previous normal course issuer bid. The subordinate voting shares were acquired through the facilities of the TSXV by Canaccord Genuity Corp.
Digihost is a blockchain technology company primarily focused on Bitcoin mining.
Digihost Technology Inc. (DGHI) opened trading at C$1.83 per share.