Gryphon digital mining converts debt to equity to strengthen balance sheet and increase shareholder equity

Anchorage digital to become largest shareholder and join gryphon digital mining board gryphon restructures anchorage digital debt of 304 btc (approximately $18 million1) to increase shareholder equity and reduce outstanding debt by over 70%, by: converting approximately $13m of debt into equity and pre-funded warrants at $1.10/share, a significant premium to current market price; restructuring the remaining $5 million debt as follows: three year term; 4.25% interest rate; interest only payments during the term; conversion features as described below; and payable in usd over 3 years;. granting anchorage digital additional warrants to purchase 2 million shares at $1.50/share; and anchorage digital will become a key advisor to the company and will be granted a seat on gryphon's board of directors las vegas, nv / accesswire / october 28, 2024 / gryphon digital mining , inc. (nasdaq:gryp) ("gryphon" or the "company") a bitcoin mining company that is focused on becoming the leader in low-cost, efficient operations, today announced it has entered into an agreement with anchorage lending ca, llc , a subsidiary of anchor labs, inc. d/b/a anchorage digital ("anchorage digital"), to substantially restructure the company's outstanding debt.
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