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Bitcoin Miner Stronghold Launches Nasdaq IPO

Bitcoin Miner Stronghold Launches Nasdaq IPO

The company will list over 5 million shares of common stock on the Nasdaq at an IPO price of between $16 and $18.

  • Bitcoin miner Stronghold announced today the launch of its initial public offering (IPO) of 5,882,352 Class A common stock shares.
  • The anticipated IPO price will be between $16 and $18 per share under an S-1 Form filed with the U.S. SEC, which has not yet become effective.
  • The company plans to list its shares on the Nasdaq Global Market under the ticker “SDIG.”

Stronghold Digital Assets has officially launched its Nasdaq IPO of 5,882,352 shares of Class A common stock at an anticipated price of between $16 and $18 per share, according to a release shared with Bitcoin Magazine.

The company has already filed the final prospectus with the Securities and Exchange Commission (SEC), but it has not yet become effective. The bitcoin miner first filed for a Nasdaq IPO in July.

Stronghold plans to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “SDIG” and become the first North American company of its kind to go public through an actual IPO, different from the now popular direct listing and SPAC avenues.

“B. Riley Securities, Inc. and Cowen are acting as joint book-running managers, Tudor, Pickering, Holt & Co. is serving as lead manager, and D.A. Davidson & Co., Compass Point, and Northland Capital Markets are acting as co-managers for the proposed offering,” the release said.

In addition to the over five million shares, Stronghold intends to grant underwriters a 30-day option to purchase up to an additional 882,352 shares of the company’s Class A common stock at the IPO price, less the underwriting discount and commissions.

Stronghold has sought to restore the usability of geographical areas damaged by waste coal by converting it into power and mining bitcoin with its first power generation plant in Pennsylvania. In August, Stronghold acquired a second power plant, seeking to double the miner’s capacity.

Read more: https://bitcoinmagazine.com/markets/bitcoin-miner-stronghold-launches-nasdaq-ipo

Text source: Bitcoin Magazine: Bitcoin News, Articles, Charts,

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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