Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
March 10 2022 - 6:24AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_____________________
FORM 6-K
_____________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2022
Commission File Number: 001-40816
_____________________
Argo Blockchain plc
(Translation
of registrant’s name into English)
_____________________
9th Floor
16
Great Queen Street
London
WC2B 5DG
England
(Address
of principal executive office)
_____________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ☐
EXHIBIT INDEX
Exhibit
No.
1
|
Description
Equipment
Financing Agreement with NYDIG dated 10 March 2022
|
Press Release
10 March 2022
Argo Blockchain PLC
("Argo" or "the Company")
Argo Announces Equipment Financing Agreement with
NYDIG
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), announces that Argo Helios LLC ("Argo Helios"),
a wholly owned Delaware-registered subsidiary of Argo Blockchain
plc, has entered into an equipment financing agreement (the
"Financing Agreement") with NYDIG ABL LLC ("NYDIG"), a wholly owned
subsidiary of New York Digital Investment Group LLC.
As part of the Financing Agreement, NYDIG has loaned Argo Helios an
aggregate principal amount of $26.66 million (£20.23 million)*
to recapitalize the purchase of electrical infrastructure equipment
(the "Financed Equipment") for the Company's flagship
cryptocurrency mining facility, Helios, in Dickens County, Texas.
The Company anticipates being able to energize the 200MW Helios
facility, and is still on track for facility completion, in the
first half of 2022.
The aggregate principal amount outstanding bears interest of 8.25%
per annum and has a term of four years. Outstanding borrowings
under the Financing Agreement are secured by the Financed Equipment
and the contracts to acquire the Financed Equipment.
* Exchange rate correct as of
9 March 2022
Peter Wall, Chief Executive of Argo, said: "We are
delighted to
secure this non-dilutive funding which will enable us to complete a
crucial stage in our fit out of our Helios site. NYDIG is one of
the foremost bitcoin finance companies in the industry and we are
excited to leverage their knowledge and insight of the sector in
this newly formed relationship".
Josh Burandt, Head of Mining Services at NYDIG, said "The mission
of our mining services business is to help secure the bitcoin
network by supporting the growth of the world's leading Bitcoin
miners. In pursuit of that mission, we are excited to partner with
Argo and provide infrastructure financing for the launch of their
state-of-the-art Texas facility."
Inside Information and Forward-Looking Statements
This announcement contains inside information and includes
forward-looking statements which reflect the Company's or, as
appropriate, the Directors' current views, interpretations,
beliefs, or expectations with respect to the Company's financial
performance, business strategy and plans and objectives of
management for future operations. These statements include
forward-looking statements both with respect to the Company and the
sector and industry in which the Company operates. Statements
which include the words "expects", "intends", "plans", "believes",
"projects", "anticipates", "will", "targets", "aims", "may",
"would", "could", "continue", "estimate", "future", "opportunity",
"potential" or, in each case, their negatives, and similar
statements of a future or forward-looking nature identify
forward-looking statements. All forward-looking statements address
matters that involve risks and uncertainties because they relate to
events that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance. Accordingly, there are or will be important
factors that could cause the Company's actual results, prospects,
and performance to differ materially from those indicated in these
statements. In addition, even if the Company's actual
results, prospects and performance are consistent with the
forward-looking statements contained in this document, those
results may not be indicative of results in subsequent periods.
These forward-looking statements speak only as of the date of this
announcement. Subject to any obligations under the Prospectus
Regulation Rules, the Market Abuse Regulation, the Listing Rules
and the Disclosure and Transparency Rules and except as required by
the FCA, the London Stock Exchange, the City Code or applicable law
and regulations, the Company undertakes no obligation publicly to
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise. For a more
complete discussion of factors that could cause our actual results
to differ from those described in this announcement, please refer
to the filings that Company makes from time to time with the United
States Securities and Exchange Commission and the United Kingdom
Financial Conduct Authority, including the section entitled "Risk
Factors" in the Company's Registration Statement on Form
F-1.
For further information please contact:
Argo Blockchain
|
|
Peter Wall
Chief
Executive
|
via Tancredi +44 203 434 2334
|
finnCap Ltd
|
|
Corporate
Finance
Jonny Franklin-Adams
Tim Harper
Joint
Corporate Broker
Sunila de Silva
|
+44 207 220 0500
|
Tennyson Securities
|
|
Joint
Corporate Broker
Peter Krens
|
+44 207 186 9030
|
OTC Markets
|
|
Jonathan Dickson
jonathan@otcmarkets.com
|
+44 204 526 4581
+44 7731 815 896
|
Tancredi Intelligent Communication
UK
& Europe Media Relations
|
|
Emma Valgimigli
Emma Hodges
Fabio Galloni-Roversi Monaco
Nasser Al-Sayed
argoblock@tancredigroup.com
|
+44 7727 180 873
+44 7861 995 628
+44 7888 672 701
+44 7915 033 739
|
About Argo:
Argo Blockchain plc is a global leader in cryptocurrency mining
with one of the largest and most efficient operations powered by
clean energy. The Company is headquartered in London, UK and its
shares are listed on the Main Market of the London Stock Exchange
under the ticker: ARB and on the Nasdaq Global Select Market in the
United States under the ticker: ARBK.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date:
10 March, 2022
|
ARGO BLOCKCHAIN PLC
By:
Name:
Peter Wall
Title:
Chief Executive Officer
Name:
Davis Zaffe
Title:
General Counsel
|
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