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

Riot Platforms, Inc. (RIOT) announced on Monday its plan to privately issue $500 million in convertible senior notes, with a maturity date set for 2030. This news comes as the Bitcoin mining and digital infrastructure company's stock fell over 6% in pre-market trading. Additionally, Riot intends to provide the initial purchasers with an option to buy up to an extra $75 million worth of these notes.

The company plans to utilize the net proceeds from this offering to increase its Bitcoin holdings and support general corporate activities. As of last Friday, Riot Platforms' stock closed at $12.95, marking a 5.11% rise from previous trading sessions. Over the past year, the stock has fluctuated between $6.36 and $18.75.