Bitcoin Miner Stronghold Continues Debt Restructuring With Convertible Preferred Share Issuance

Bitcoin Miner Stronghold Continues Debt Restructuring With Convertible Preferred Share Issuance

The preferred shares will be convertible into common stock at a conversion price of $0.40 per share. If all the preferred stock is converted, about 57.8 million shares of common shares would be issued, adding about 46% to the current common float, according to the company. The new preferred stock bears no dividend.

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