Hut 8 Announces Closing of $150 Million Investment from Coatue
Rhea-AI Summary
Hut 8 has successfully closed a $150 million convertible note investment from Coatue Management. This significant investment aims to bolster Hut 8's energy infrastructure and Bitcoin mining operations. Hut 8, listed on Nasdaq and TSX under the symbol HUT, plans to leverage the exemption in Section 602.1 of the TSX Company Manual, which allows certain standards to be waived for 'Eligible Interlisted Issuers'. Details of the transaction and the Note Purchase Agreement are available on Hut 8's website and the SEC's Form 8-K filing.
Positive
- $150 million investment from Coatue Management.
- Hut 8 plans to use exemption in Section 602.1 of the TSX Company Manual.
Negative
- None.
News Market Reaction – HUT
In the trading session that priced this news, HUT gained 1.73%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MIAMI, July 01, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, is pleased to announce it has closed its previously announced
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
The Company intends to rely on an exemption set forth in Section 602.1 of the TSX Company Manual (the "Manual"), which exemption provides that the TSX will not apply certain of its standards (including the private placement standards set out in Section 607 of the Manual) to "Eligible Interlisted Issuers" (as such term is defined in the Manual).
Additional Transaction Information
The Company has made available on its website a presentation with additional information concerning the transaction. Additional information, including the Note Purchase Agreement governing the issuance and sale of the Note, is available in the Form 8-K that the Company has filed with the Securities and Exchange Commission.
About Hut 8
Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising nineteen sites: ten Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, and four power generation assets in Ontario. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.
Hut 8 Corp. Investor Relations
Sue Ennis
sue@hut8.com
Hut 8 Corp. Media Relations
Eóin Fay
eoin.fay@hut8.com
