- LUXXFOLIO Holdings (LUXX) has upsized its previously announced bought deal financing
- The company will issue 13,000,000 units at a price of $0.70 per unit for aggregate gross proceeds of $9.1 million
- Net proceeds will be used for working capital requirements and for the development and maintenance of the company’s Bitcoin mining operation
- LUXXFOLIO Holdings is a digital asset company operating an industrial-scale cryptocurrency mining facility in the US
- LUXXFOLIO Holdings Inc. (LUXX) is unchanged, trading at C$0.81 per share at 12 pm ET
LUXXFOLIO Holdings (LUXX) has upsized its previously announced bought deal financing.
The company will issue 13,000,000 units at a price of $0.70 per unit for aggregate gross proceeds of $9.1 million.
Each unit includes one common share and one-half warrant. Each whole warrant is exercisable to acquire a common share at an exercise price of $1.00 for a period of 24 months from the closing of the offering.
LUXXFOLIO has granted the underwriters a period of 30 days following the closing of the offering, to purchase up to an additional 1,950,000 units to cover over-allotments. If the option is exercised in full, the gross proceeds of the offering will be approximately $10.5 million.
Net proceeds will be used for working capital requirements and for the development, sustaining capital, and maintenance of the company’s Bitcoin mining operation.
The offering is expected to close on December 7, 2021, and is subject to the approval of the Canadian Stock Exchange.
LUXXFOLIO Holdings Inc. is a digital asset company. The company operates an industrial-scale cryptocurrency mining facility in the United States running off mostly renewable energy with a focus on the blockchain ecosystem and generation of digital assets.
LUXXFOLIO Holdings Inc. (LUXX) is unchanged, trading at C$0.81 per share at 12 pm ET.