Summary by Moomoo AI
Riot Platforms plans to offer $500 million in convertible senior notes due 2030, with an option for an additional $75 million. The notes will be convertible into cash, Riot's common stock, or a combination, at Riot's discretion. The offering is aimed at qualified institutional buyers under Rule 144A.The notes will mature on January 15, 2030, with Riot having the option to redeem them from January 20, 2028. Conversion will be possible under certain conditions before July 15, 2029, and at any time thereafter until two days before maturity. The initial conversion rate will be determined at pricing, based on Riot's stock's volume-weighted average price.As of November 30, 2024, Riot held 11,425 Bitcoin valued at approximately $1.102 billion. The company intends to use the net proceeds to acquire additional Bitcoin and for general corporate purposes. This unaudited information is preliminary and not indicative of future performance.
