Crypto miner Greenridge Generation is on a mission to raise up to $22.8 million.
The US-based bitcoin mining company has signed a sales deal with B. Riley Securities for the Class A common stock offer, which will give the investment bank up to 5% of the gross proceeds from the offer.
In the filing, Greenridge wrote, "we (the company) currently plan to use the net proceeds from this offering, after deducting B. Riley's commissions and offering expenses payable by us, for general corporate purposes, which may include, among other things, paying or refinancing all or a portion of our indebtedness at the time, and funding acquisitions, capital expenditures and working capital."
In March, the bitcoin mining company had secured $100 million in funds to help enlarge its operations in the US.
The total sum included $81.4 million as a loan from an affiliate of NYDIG and $26.5 million as a promissory note with a B. Riley Financial, Inc cohort.
Even though Greenridge announced that its mining...
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