Hut 8 Reports Early Payoff Of Outstanding Loan; Says Anchorage Digital Converted Entire ~$38M Loan Balance To Hut 8 Common Shares At Price Of $16.395 Per Share
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Hut 8 Mining Corp. announced that Anchorage Digital has converted a ~$38 million loan into Hut 8 common shares at $16.395 per share, a 51% premium to the 20-Day VWAP. This conversion is part of a Debt Repayment Agreement.
October 01, 2024 | 10:36 am
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Anchorage Digital converted a ~$38M loan into Hut 8 shares at a 51% premium, indicating strong confidence in Hut 8's future performance.
The conversion of debt into equity at a significant premium suggests confidence in Hut 8's future prospects. This action reduces debt and may positively influence investor sentiment, potentially driving the stock price up in the short term.
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