Argo Blockchain Issues Over 1.6M New Shares Under Restricted Share Unit Terms
Portfolio Pulse from Benzinga Newsdesk
Argo Blockchain plc (NASDAQ: ARBK), a cryptocurrency mining company, has issued 1,638,305 new ordinary shares as part of the terms for previously granted Restricted Share Units. These shares will be on par with existing shares and are expected to be admitted to the London Stock Exchange's Main Market for trading on December 20.
December 15, 2023 | 7:57 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Argo Blockchain's issuance of over 1.6 million new shares may dilute existing shareholders' equity, potentially leading to a short-term negative impact on the stock price.
The issuance of new shares often leads to dilution of existing shareholders' equity, which can result in a decrease in the stock price as the market adjusts to the increased share count. However, the impact may be mitigated if the market had already anticipated this issuance or if the funds raised are used for growth initiatives that investors view favorably.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100