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MGT Capital Announces Equity Purchase Agreement of up to $35 Million
MGT Capital Announces Equity Purchase Agreement of up to $35 Million.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\n\n\n\nMGT Capital Announces Equity Purchase Agreement of up to $35 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMGT Capital Announces Equity Purchase Agreement of up to $35 Million\nProceeds to be Used for Further Investment in Cryptocurrency Mining\nPR Newswire\nDURHAM, N.C., Sept. 12, 2017\n\n\n\nDURHAM, N.C., Sept. 12, 2017 /PRNewswire/ -- MGT Capital Investments, Inc. (OTC: MGTI) announced today that it has amended its existing equity line of credit with L2 Capital to allow MGT the flexibility to put to L2 up to 12.3 million shares of the Company's common stock from time to time at the Company's discretion. The Company intends to promptly file an S-1 Registration Statement with the U. S. Securities and Exchange Commission with full details of the Equity Purchase Agreement (\"EPA\"). No securities will be sold until the Company receives notice of Effectiveness by the SEC.\n\nThe amended EPA was granted by L2 with no further commitment fee or other cost. At the time of execution of the amendment, the value of the commitment by L2 was $35 million. Robert Ladd, President and CEO of MGT stated, \"A vote of confidence of this size lends to the growing evidence of the profitability of our current Bitcoin mining efforts. We can't wait to deploy this capital in an accretive manner to further our goal of being the largest cryptocurrency entity in North America.\"\n\nAbout MGT Capital Investments, Inc.\n\nWith facilities in WA state, MGT Capital Investments, Inc. (OTC: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to focus on an expansion model to grow its crypto assets materially. \n\nThe Company is also developing a portfolio of cyber security technologies, with industry pioneer John McAfee as its visionary leader, creating advanced protection technologies for mobile and personal tech devices, as well as corporate networks. The Company's first product, Sentinel, an enterprise class network intrusion detector, is currently in beta testing, with commercial release anticipated by the end of September 2017. The Compa...