CASTLE
ROCK, Colo., Dec. 16,
2024 /PRNewswire/ -- Riot Platforms, Inc. (Nasdaq:
RIOT) ("Riot" or the "Company") today announced that it
completed its previously announced offering of its 0.75%
convertible senior notes due 2030 (the "2030 Notes"). The
aggregate principal amount of the 2030 Notes sold in the offering
was $594.4 million, which included
$69.4 million aggregate principal
amount of the 2030 Notes relating to the partial exercise of the
initial purchasers' option. The 2030 Notes were sold in a private
offering only to persons reasonably believed to be qualified
institutional buyers in reliance on Rule 144A under the Securities
Act of 1933, as amended (the "Securities Act").
The net proceeds from the issuance of the 2030 Notes were
approximately $579.2 million, after
deducting the initial purchasers' discounts and commissions and
estimated offering expenses payable by Riot. Riot is pleased to
announce that it has already deployed substantially all of the net
proceeds from the offering to acquire additional
Bitcoin.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy the 2030 Notes, nor shall there be
any sale of the 2030 Notes, in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful under the
securities laws of any such state or jurisdiction.
About Riot Platforms, Inc.
Riot's (NASDAQ: RIOT) vision is to be the world's
leading Bitcoin-driven infrastructure
platform.
Our mission is to positively impact the sectors, networks and
communities that we touch. We believe that the combination of an
innovative spirit and strong community partnership allows the
Company to achieve best-in-class execution and create successful
outcomes.
Riot is a Bitcoin mining and digital
infrastructure company focused on a vertically integrated strategy.
The Company has Bitcoin mining operations in
central Texas and Kentucky, and electrical
switchgear engineering and fabrication operations in Denver,
Colorado.
For more information, visit www.riotplatforms.com.
Forward-Looking Statements
Statements in this press release that are not historical facts
are forward-looking statements that reflect management's current
expectations, assumptions, and estimates of future performance and
economic conditions. Such statements rely on the safe harbor
provisions of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Words such as "anticipates,"
"believes," "plans," "expects," "intends," "will," "potential,"
"hope," and similar expressions are intended to identify
forward-looking statements. These forward-looking statements may
include, but are not limited to, statements relating to the
estimated net proceeds of the offering of the 2030 Notes and the
anticipated use of such net proceeds. Detailed information
regarding the factors identified by the Company's management which
they believe may cause actual results to differ materially from
those expressed or implied by such forward-looking statements in
this press release may be found in the Company's filings with the
U.S. Securities and Exchange Commission (the "SEC"),
including the risks, uncertainties and other factors discussed
under the sections entitled "Risk Factors" and "Cautionary Note
Regarding Forward-Looking Statements" of the Company's Annual
Report on Form 10-K for the fiscal year ended December 31,
2023, as amended, and the other filings the Company makes with the
SEC, copies of which may be obtained from the SEC's
website, www.sec.gov. All forward-looking statements included
in this press release are made only as of the date of this press
release, and the Company disclaims any intention or obligation to
update or revise any such forward-looking statements to reflect
events or circumstances that subsequently occur, or of which the
Company hereafter becomes aware, except as required by law. Persons
reading this press release are cautioned not to place undue
reliance on such forward-looking statements.
For further information, please contact:
Investor Contact:
Phil McPherson
303-794-2000 ext. 110
IR@Riot.Inc
Media Contact:
Alexis Brock
303-794-2000 ext. 118
PR@Riot.Inc
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SOURCE Riot Platforms, Inc.