Canadian mining company Hut 8 Mining Corp. has received approval to list its shares on the Nasdaq stock exchange.
ANNOUNCEMENT 👉HUT 8 APPROVED✅ to list on the NASDAQ GLOBAL SELECT MARKET. The highest Tier of NASDAQ. Trade date details will be provided shortly. 🌏🚀🚀🚀 @JaimeLeverton @Hut8Mining https://t.co/BJ9WEQi6iX
— Hut 8 Mining (@Hut8Mining) June 10, 2021
According to the press release, the expected listing date for the securities under the ticker HUT is June 15, 2021. Under the same ticker, the company’s shares trade on the Toronto Stock Exchange.
Hut 8 has entered into an agreement with Canaccord Genuity Corp.—the firm will act as lead underwriter on its own behalf and for the underwriting syndicate. Under the terms, they will acquire 20 million units (one common share and a warrant) at C$5 per unit (~$4.13 at the time of writing).
Each warrant may be exercised to purchase one security at a price of C$6.25 within 24 months of issuance.
The mining company will also grant the underwriters an option to purchase up to an additional 3 million units.
Proceeds will be used to expand existing capacity, purchase mining equipment, fund strategic partnerships, and for general corporate purposes.
Earlier in April, the Canadian company announced plans to raise C$500 million through an offering on the Toronto Stock Exchange.