Riot Platforms To Privately Place $500 Mln Of Convertible Sr. Notes; Stock Down 6% In Pre-market

(RTTNews) - Riot Platforms, Inc. (RIOT), Monday said that it intends to privately offer $500 million convertible senior notes due 2030. The Bitcoin mining and digital infrastructure company's shares were down more than 6 percent in pre-market trading.

The company also expects to grant to the initial purchasers an option to purchase up to an additional $75 million of the notes.

Riot intends to use the net proceeds from this offering to acquire additional bitcoin and for general corporate purposes.

Riot Platforms stock had closed at $12.95, up 5.11 percent on Friday. It has traded in the range of $6.36 - $18.75 in the last 1 year.