Riot Broadcasts Pricing of 0.75% Convertible Senior Notes Providing by Investing.com

CASTLE ROCK, Colo., December 10, 2024 /PRNewswire/ — Riot Platforms (NASDAQ:), Inc. (NASDAQ: RIOT) (“Riot” or the “Firm”) at present introduced the worth of its provide of $525 million mixture principal quantity of its 0.75% convertible senior notes due 2030 (the “Notes”). The Notes will likely be offered in a non-public providing solely to individuals moderately believed to be certified institutional consumers below Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). Riot has additionally granted the unique purchasers of the tickets an choice to buy, inside three days starting and together with the date the tickets are first issued, as much as a further quantity $75 million mixture principal quantity of the Notes. The provide was elevated from the beforehand introduced provide of 500 million {dollars} mixture principal quantity of the Notes. The providing is anticipated to shut on December 11, 2024topic to the satisfaction of customary closing circumstances.

The Notes will likely be senior unsecured obligations of Riot. The notes will bear curiosity on the charge of 0.75% every year, payable semi-annually in arrears from January 15 And July 15 of every 12 months, and can mature on January 15, 2030except they’ve beforehand been repurchased, repurchased or transformed in accordance with their phrases. Topic to sure circumstances, from January 20, 2028Riot could repurchase for money all or a part of the Notes at a repurchase worth equal to 100% of the principal quantity of the Notes to be repurchased, plus accrued and unpaid curiosity till the redemption date, however completely, if the each day VWAP (similar to set forth within the non-public providing memorandum for the providing of the Notes) has been not less than 130% of the conversion worth then in impact for a specified time period ending on the buying and selling day instantly previous the date of the opinion of the redemption is shipped. If Riot buys again lower than all of the tickets in circulation, not less than $50 million your entire principal quantity of the bonds have to be excellent and never topic to redemption as of the related redemption discover date.

In reference to sure company occasions or if Riot calls a ticket for refund, it’ll, in sure circumstances, be required to extend the conversion charge for holders who select to transform their tickets in reference to such an occasion firm or such discover of redemption.

The Notes will likely be convertible into money, shares of Riot widespread inventory, or a mix of money and shares of Riot widespread inventory, at Riot's choice. Earlier than July 15, 2029the notes will likely be convertible solely upon the prevalence of sure occasions and through sure intervals, and thereafter, at any time till the second scheduled buying and selling day instantly previous the maturity date.

The conversion charge of the Notes will initially be 67.2767 shares of Riot widespread inventory per $1,000 principal quantity of the notes, which equates to an preliminary conversion worth of roughly $14.86 per share. The preliminary conversion worth of the bonds represents a premium of roughly 32.5% over the WE Composite volume-weighted common worth of Riot widespread inventory from 2:00 p.m. by way of and together with quantity reported on the official Market Heart shut on December 9, 2024or $11.2181. The conversion charge will likely be topic to adjustment upon the prevalence of sure occasions.

Riot estimates that web proceeds from ticket gross sales will likely be roughly $511.5 million (or roughly $584.6 million if the preliminary purchasers train their choice in full to buy further tickets), after deducting the preliminary purchasers' reductions and commissions and the estimated providing charges payable by Riot.

Riot intends to make use of the online proceeds from the providing to accumulate bitcoin and for basic company functions.

The Notes will likely be supplied and offered to individuals moderately believed to be certified institutional consumers pursuant to Rule 144A below the Securities Act. The provide and sale of the Notes and any shares of Riot's widespread inventory issuable upon conversion of the Notes, if any, haven’t been and won’t be registered below the Securities Act or securities legal guidelines. securities of every other jurisdiction, and the notes and any such shares is probably not supplied or offered america within the absence of registration or an relevant exemption from such registration necessities. The Notes are being supplied solely by the use of a non-public providing memorandum.

This press launch shall not represent a suggestion to promote, or the solicitation of a suggestion to purchase, the Notes, nor shall there be any sale of the Notes in any state or jurisdiction by which such provide, solicitation or sale can be made. unlawful below the securities legal guidelines of any such state or jurisdiction. There will be no assurance that the providing of the Notes will likely be made as described herein or in any respect.

About Riot Platforms, Inc.

Riot's (NASDAQ: RIOT) imaginative and prescient is to be the worldwide chief pushed infrastructure platform.

Our mission is to have a optimistic affect on the sectors, networks and communities we contact. We consider the mixture of a spirit of innovation and powerful group partnership allows the corporate to realize best-in-class execution and create optimistic outcomes.

The riot is a Bitcoin mining and digital infrastructure firm targeted on a vertically built-in technique. The Firm has Bitcoin mining operations within the middle Texas And Kentuckyand engineering and manufacturing operations {of electrical} tools in Denver, Colorado.

Ahead-looking statements

Statements on this press launch that aren’t historic information are forward-looking statements that mirror administration's present expectations, assumptions and estimates relating to future efficiency and financial circumstances. These statements depend on the secure harbor provisions of Part 27A of the Securities Act and Part 21E of the Securities Trade Act of 1934. As a result of these statements are topic to dangers and uncertainties, Precise outcomes could differ materially from these expressed or implied by such data. searching for statements. Phrases similar to “anticipates”, “believes”, “plans”, “expects”, “intends”, “will”, “potential”, “hopes” and comparable expressions are meant to determine forward-looking statements. These forward-looking statements could embody, with out limitation, statements relating to uncertainties associated to the satisfaction of closing circumstances for the sale of the Notes. Detailed data relating to elements recognized by the Firm's administration that it believes may trigger precise outcomes to vary materially from these expressed or implied by the forward-looking statements contained on this press launch will be discovered within the paperwork filed by the Firm with the United States Securities and Trade Fee (THE “SECOND“), together with the dangers, uncertainties and different elements mentioned within the sections entitled “Danger Elements” and “Cautionary Be aware Relating to Ahead-Wanting Statements” of the Firm's Annual Report on Kind 10-Ok for the then-current 12 months. December 31, 2023as amended, and different filings that the Firm makes with the SECONDcopies of which can be obtained from the DRY web site, www.sec.gov. Any forward-looking statements included on this press launch are made solely as of the date of this press launch, and the Firm disclaims any intention or obligation to replace or revise any such forward-looking statements to mirror occasions or circumstances that happen. subsequently, or of which the Firm subsequently turns into conscious, except required by legislation. Individuals studying this press launch are cautioned to not place undue reliance on these forward-looking statements.

For extra data, please contact:

Investor contact:Phil McPherson303-794-2000 ext. 110
IR@Riot.Inc

Media Contact:Alexis Brock303-794-2000 ext. 118
PR@Riot.Inc