Stronghold Digital Mining, Inc. (SDIG) introduced right this moment that it has entered into securities buy agreements with an institutional investor and the Firm’s Chairman and Chief Government Officer, Greg Beard (collectively the “Purchasers”), to promote 9,000,000 shares of Class A standard inventory and inventory equivalents to the Institutional Investor and 1,000,000 shares of Class A standard inventory to Mr. Beard, in every case at a worth of $1.00 per equal share (the “Non-public Placement”). The Firm can even subject to purchasers warrants to buy an combination of 10,000,000 Class A standard shares, with an preliminary train worth of $1.10 per share (topic to changes), and such warrants subscription could solely be exercised six months after their subject.
Gross proceeds from the personal placement are anticipated to be $10 million, earlier than providing charges, and are anticipated for use to amass further Bitcoin miners. The closing of the personal placement is predicted to happen on April 21, 2023.
As a part of the Non-public Placement, the Firm has entered right into a registration rights settlement with the institutional investor referring to the resale of the securities bought underneath the Non-public Placement. The Firm can be prohibited from issuing shares till 30 days after the efficient date (the “Efficient Date”) of a registration assertion protecting the resale of securities bought by the investor establishment within the context of the Non-public Placement and to hold out variable price transactions for a interval of 6 months following the efficient date, topic in every case to sure exceptions.
This press launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase any of the securities described herein, and there can be no sale of such securities in any state or jurisdiction by which a such provide, solicitation or sale can be illegal. previous to registration or qualification underneath the securities legal guidelines of any such state or territory.
About Stronghold Digital Mining, Inc.
Stronghold is a vertically built-in bitcoin mining firm with a deal with environmentally helpful operations. Stronghold homes its miners at its 100% owned and operated Scrubgrass and Panther Creek mills, each of that are low-cost, environmentally helpful waste coal energy era amenities in Pennsylvania.
Investor contacts:
Matt Glover or Alex Kovtun
Gateway Group, Inc.
SDIG@GatewayIR.com
1-949-574-3860
Media Contact:
contact@strongholddigitalmining.com
Ahead-looking statements:
The knowledge, monetary projections and different estimates contained herein include “forward-looking” statements as that time period is outlined in Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade. Act of 1934, as amended by the Non-public Securities Litigation Reform Act of 1995, together with however not restricted to statements relating to the anticipated efficiency of the Firm and its belongings. These projections and estimates relate to future occasions and shouldn’t be relied upon as information, and mirror numerous assumptions of the Firm’s administration relating to the longer term efficiency of the Firm and are topic to important enterprise, monetary, financial, operational adjustments. , aggressive and others. dangers, uncertainties and contingencies (a lot of that are tough to foretell and past the Firm’s management) that might trigger precise outcomes to vary materially from the statements and knowledge included herein. Ahead-looking statements relate to future circumstances and outcomes and different statements that aren’t historic information and are typically recognized by the phrases “could”, “will”, “ought to”, “potential”, “intends of”, “expects”, “strives”, “search”, “anticipate”, “estimate”, “overestimate”, “underestimate”, “imagine”, “may”, “mission”, “predict”, “proceed”, “goal” or different comparable phrases or expressions. Ahead-looking statements are based mostly on present plans, estimates and expectations that are topic to dangers, uncertainties and assumptions. Ahead-looking statements could embody statements about numerous dangers and uncertainties, together with these described underneath “Threat Components” as detailed sometimes in Stronghold’s reviews filed with the SEC, together with Stronghold’s Annual Report on Kind 10- Ok, periodic quarterly reviews on Kind 10-Q, present reviews on Kind 8-Ok, and different paperwork filed with the SEC. These dangers and uncertainties should not unique. All forward-looking statements converse solely as of the date of this communication. The Firm undertakes no obligation to replace any forward-looking statements, whether or not because of new info or developments, future occasions or in any other case, besides as required by regulation. Readers are cautioned to not place undue reliance on any of those forward-looking statements. As well as, the next descriptions of market circumstances and alternatives are for informational functions solely; there will be no assurance that such circumstances will truly happen or end in optimistic returns. Recipients of this communication ought to make their very own analysis and analysis of any info referenced herein.
