← Keel Infrastructure · FinancingEdit
At-the-market equity program (up to US$375 million)
Mar 8, 2024 · OtherTerms of issuance
Instrument
ATM program
Principal
$375.0M
Net proceeds
Issue date
Mar 8, 2024
Maturity
Seniority
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
n/ano datapoint on or before the issue date
Stock price / market cap (as of issue date)
n/ano price on or before the issue date
Use of proceeds
Other financing outstanding (excl. this instrument)
Macquarie project-specific financing facility (up to $300 million) ($300.0M), 1.375% Convertible Senior Notes due 2031 ($588.0M), 1.250% Convertible Senior Notes due 2032 ($458.0M)
— of which existing debt
$1.35B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
OtherBitfarms announces $375 million at-the-market equity offering program
Mar 8, 2024