Riot Platforms conclui oferta de títulos conversíveis, levantando US$ 594 milhões para comprar 667 BTC
A Riot Platforms anunciou hoje que concluiu sua oferta de notas seniores conversíveis de 0,75% com vencimento em 2030 para arrecadar US$ 594,4 milhões. A mineradora Bitcoin usou os recursos adicionais de sua emissão de títulos conversíveis com cupom para adquirir 667 BTC a US$ 101.135 por token, elevando sua participação total em BTC para 17.429 BTC.
A Riot gerou um rendimento BTC por ação de 37,2% no acumulado do ano e 36,7% no trimestre por meio da recente aquisição Bitcoin e produção de mineração no acumulado do ano. Sua participação total Bitcoin vale atualmente US$ 1,8 bilhão ao preço médio de mercado de US$ 103.873.
Riot Platforms fecha oferta de notas seniores conversíveis
Com os recursos adicionais da emissão de títulos conversíveis com cupom de 0,75% e US$ 594 milhões da Riot, a Empresa adquiriu 667 BTC a um preço médio de US$ 101.135 por BTC. Como resultado, a Riot aumentou suas participações para 17.429 BTC, atualmente avaliadas em US$ 1,8 bilhão com base no… pic.twitter.com/t68Uy8nbHU
— (@RiotPlatforms) 16 de dezembro de 2024
According to Riot Platforms, the aggregate principal amount of the 2030 Notes sold in the offering included $69.4 million relating to the partial exercise of the initial purchasers’ option. The net proceeds from the issuance of the 2030 Notes were approximately $579.2 million after deducting the initial purchasers’ discounts, commissions, and estimated offering expenses payable by Riot.
The Bitcoin miner disclosed that the 2030 Notes were sold in a private offering only to persons reasonably deemed qualified institutional buyers per the Securities Act. All the net proceeds were swiftly deployed to additional Bitcoin acquisition.
According to Stock Titan, successfully completing the convertible notes offering represented a huge capital raise for Riot. The convertible structure provided flexibility for future equity conversion while minimizing immediate dilution. Investors should, however, note that the substantial BTC acquisition exposed Riot to increased crypto volatility, although the low interest rate indicated favorable market conditions. The 2030 maturity period also provided a lengthy runway for the company’s growth strategy.
Riot’s capital raise marked one of the most significant fundraising events recently in the crypto mining sector. It signalled strong institutional confidence in the company’s business model and demonstrated Riot’s commitment to future operational expansion.
Riot Platforms doubles down on Bitcoin with substantial additional acquisition
On December 9th, Riot announced its intention to use all proceeds from the offering to purchase more Bitcoin, and it carried through with its plan by acquiring 667 BTC on December 16th. The company had already used a portion of the offering net proceeds to accumulate over 5K BTC between December 10th and 12th.
Riot Platforms increased its BTC holding to 17,429, suggesting plans to expand its Bitcoin reserve significantly and potentially impacting its financial strategy. The Bitcoin mining company acquired and held Bitcoin to enhance stockholder value. Riot reported its BTC Yield KPI indicating a quarter-to-date Yield of 36.7% and a year-to-date Yield of 37.2%.
According to Riot Platforms, the BTC Yield KPI could only be used by pro-level investors to supplement their understanding of the company’s decision to fund the purchase of Bitcoin by issuing additional shares of its common stock. Riot emphasized that the BTC Yield KPI was not equivalent to ‘yield’ in the traditional financial context since it could not be used as an operating performance or liquidity measure.
InvestingPro analysts anticipated that the recent BTC acquisitions would push Riot’s revenue growth to 32% in 2024. InvestingPro data further showed that the company maintained a strong balance sheet with more cash than debt and a healthy current ratio of 5.86x. Recent stock performance was also strong, with a 16% return over the past week and 23% over six months.
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