TechFlow news — On December 11, according to an official announcement, Bitcoin mining company Riot Platforms has priced the issuance of $525 million in convertible senior notes, an increase from the previously announced $500 million. The notes will mature in 2030 with an annual interest rate of 0.75%, and an initial conversion price of $14.86 per share, representing a 32.5% premium over the closing price on December 9. Additionally, underwriters have an option to purchase up to an additional $75 million in notes within three days. Riot expects net proceeds of approximately $511.5 million, which will be used for Bitcoin acquisitions and general corporate purposes. The offering is expected to close on December 11.
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