Proactive Investors - London-listed bitcoin miner Argo Blockchain PLC (LON:ARB) has issued a total of 51,340,000 ordinary shares to institutional investors Tennyson Securities at 10p per share.
The non-pre-emptive placing raised £5.134mln.
A concurrent retail offer raised a further £616,000, bringing total funds raised through the exercise to £5.75mln at a 14% discount to the 30-day volume weighted average share price.
The combined placing and retail offer represents 12% of issued share capital prior to the fundraising exercise.
Applications have been placed for trading on the main market of the London Stock Exchange with an expected placing date of 24 July.
The placing and the retail offer are conditional upon admission becoming effective and the placing agreement between Tennyson and Argo not being terminated in accordance with its terms.