Stronghold enters into $15 million private placement

New york, dec. 22, 2023 (globe newswire) -- stronghold digital mining, inc. (nasdaq: sdig) (“stronghold”, or the “company”) today announced that it entered into a securities purchase agreement with an existing institutional investor (the “purchaser”) to sell 2,300,000 shares of class a common stock and share equivalents, in each case at a price of $6.71 per share equivalent (the “private placement”). the company also issued to the purchaser warrants to purchase an aggregate of 2,300,000 shares of class a common stock, with an initial exercise price of $7.00 per share (subject to adjustments), and such warrants are not exercisable until six months after issuance.
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