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The latest announcement is out from Argo Blockchain ( (GB:ARB) ).
Argo Blockchain PLC has announced a proposed restructuring plan to address its short and medium-term capital needs, following concerns about its ability to continue as a going concern. The plan involves a restructuring agreement with Growler Mining, LLC, which includes a senior secured loan and potential equity conversion. The restructuring aims to prevent insolvency and liquidation, with Growler potentially acquiring a significant equity stake in Argo. The plan requires court approval and may lead to the cancellation of Argo’s admission to the Main Market, although it intends to maintain its NASDAQ listing. The restructuring could significantly impact existing shareholders, as their shares may be canceled, leaving them with minimal compensation.
The most recent analyst rating on (GB:ARB) stock is a Hold with a £9.50 price target. To see the full list of analyst forecasts on Argo Blockchain stock, see the GB:ARB Stock Forecast page.
More about Argo Blockchain
Argo Blockchain PLC operates in the cryptocurrency industry, focusing on blockchain technology and cryptocurrency mining. The company is listed on both the London Stock Exchange and NASDAQ, and it aims to address its capital structure and liquidity needs through strategic restructuring.
YTD Price Performance: -39.47%
Average Trading Volume: 1,405,231
Technical Sentiment Signal: Sell
Current Market Cap: £20.62M
For a thorough assessment of ARB stock, go to TipRanks’ Stock Analysis page.