NEWS
Gryphon Digital Mining Converts Debt to Equity to Strengthen Balance Sheet and Increase Shareholder Equity
Gryphon Digital Mining (NASDAQ:GRYP) has announced a significant debt restructuring agreement with Anchorage Digital. The company will convert 304 BTC (approximately $18 million) of debt, with $13 million converting to equity and pre-funded warrants at $1.10 per share, and $5 million remaining as restructured debt with a 4.25% interest rate over three years. The conversion price represents a 100% premium to Gryphon's 30-day average closing price. Anchorage Digital will become the largest shareholder, receive additional warrants to purchase 2 million shares at $1.50/share, and gain a seat on Gryphon's Board of Directors
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