Business
HIVE Digital Announces Amended At-The-Market Equity Program
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Digital Announces Amended At-The-Market Equity ProgramThis news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated August 17, 2023 to its short form base shelf prospectus dated May 1, 2023Vancouver, British Columbia--(Newsfile Corp. - August 17, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the \"Company\" or \"HIVE\") is pleased to announce that it has entered into an amended and restated equity distribution agreement (the \"Equity Distribution Agreement\") with Canaccord Genuity and Stifel GMP (collectively, the \"Agents\") to amend the Company's at-the-market program (the \"ATM Program\"). The Equity Distribution Agreement restates and supersedes the previous equity distribution agreement, dated May 10, 2023, between the Company and the Agents expanding the prior Canadian at-the-market program to the United States.Under the Equity Distribution Agreement, the Company may sell up to US$90 million of common shares of the Company (the \"Common Shares\"). The Common Shares will be issued by the Company to the public from time to time, through the Agents, at the Company's discretion. The Common Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale. Under the Equity Distribution Agreement, sales of Common Shares will be made by the Agents through \"at-the-market distributions\" as defined in National Instrument 44-102 - Shelf Distributions on the TSX Venture Exchange and the Nasdaq Stock Market. The Company is not obligated to make any sales of Common Shares under the Equity Distribution Agreement. Unless earlier terminated by the Company or the Agents as permitted therein, the Equity Distribution Agreement will terminate as of the date that the aggregate gross sales proceeds of the Common Shares sold under the ATM Program reaches the aggregate amount of US$90 million.The Company intends to use the net proceeds of the ATM Program, if any, principally for general corporate and working capital requirements, funding ongoing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.The ATM Program is being made pursuant to an amended and restated prospectus supplement (the \"Prospectus Supplement\") to the Company's ...