黑料网

Hut 8 Announces New ATM and Stock Repurchase Programs

MIAMI, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (鈥淗ut 8鈥� or the 鈥淐ompany鈥�), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America鈥檚 largest Bitcoin miners, today announced three capital markets updates:

1. The Company has entered into a Controlled Equity Offering Sales Agreement^SM with the sales agents named therein (the 鈥淪ales Agreement鈥�) pursuant to which it may offer and sell, under the Prospectus Supplement (as defined below), shares of its common stock, par value $0.01 per share (the 鈥淐ommon Stock鈥�), having an aggregate offering price of up to $500.0 million from time to time pursuant to an 鈥渁t-the-market鈥� program (the 鈥淎TM Program鈥�).
   
2. The Company launched a $250.0 million stock repurchase program with respect to the Common Stock (the 鈥淪tock Repurchase Program鈥�).
   
3. Under the terms of the Company鈥檚 Convertible Note Purchase Agreement with Coatue Tactical Solutions Lending Holdings AIV 3 LP (鈥淐oatue鈥�), Coatue has consented to the launch of the Stock Repurchase Program and elected not to require the registration of the Common Stock underlying their convertible note in connection with Hut 8鈥檚 filing today of a shelf registration statement on Form S-3ASR (the 鈥淩egistration Statement鈥�) with the Securities and Exchange Commission (the 鈥淪EC鈥�).
   

鈥淭he launch of the ATM Program and Stock Repurchase Program have equipped the business with two powerful tools that we believe bolster our ability to navigate the volatile markets in which we operate,鈥� said Asher Genoot, CEO of Hut 8. 鈥淭hese tools support a robust, integrated capital strategy, reinforcing our proactive approach to treasury management.鈥�

鈥淲e believe the three capital market updates announced today send a clear message to shareholders: our key investors continue to believe in us, and the flexibility provided by the ATM Program and Stock Repurchase Program strengthens our ability to pursue ambitious growth objectives with confidence while maintaining a relentless focus on driving sustainable shareholder returns.鈥�

The Company intends to use the net proceeds from any sales of Common Stock under the ATM Program for growth initiatives, including the acquisition or development of power and digital infrastructure assets such as data centers, as well as the purchase of Bitcoin as a strategic reserve asset. Net proceeds may also be allocated to other capital expenditures and investments, working capital, the repurchase of outstanding securities, the repayment of indebtedness, and other general corporate purposes. Pursuant to the Sales Agreement, sales of the Common Stock under the ATM Program may be made in the United States by any method deemed to be an 鈥渁t-the-market offering鈥� as defined in Rule 415 of the Securities Act of 1933, as amended, or by any other method permitted by law, including by sales made directly on or through the Nasdaq Global Select Market (鈥淣asdaq鈥�). The Company may in the future make sales of the Common Stock under the Sales Agreement in Canada to or through Canadian affiliates of the sales agents named therein, subject to certain terms and conditions set forth therein including the filing of a prospectus in each of the provinces and territories of Canada qualifying the Common Stock in 鈥渁t-the-market鈥� offerings under applicable Canadian securities laws.

Sales under the ATM Program will be made pursuant to a prospectus supplement, dated December 4, 2024 (the 鈥淧rospectus Supplement鈥�), to the base prospectus contained in the Registration Statement (the 鈥淧rospectus鈥�), each filed by the Company with the SEC for the offering to which this communication relates. Before investing, prospective investors should read the Prospectus and the Prospectus Supplement (including the documents incorporated by reference therein) and other documents the Company has filed with the SEC for more complete information about the Company and the ATM Program, including the risks associated with investing in the Common Stock. Copies of the Prospectus and the Prospectus Supplement may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, New York, New York 10022, or by email at prospectus@cantor.com or from Keefe, Bruyette & Woods, Inc., by email at kbwsyndicatedesk@kbw.com or by telephone at +1 (800) 966-1559. You may also obtain these documents free of charge when they are available by visiting EDGAR at www.sec.gov.

The Stock Repurchase Program has been introduced as part of the Company鈥檚 capital management plan. Under the Stock Repurchase Program, the Company may repurchase up to 4,683,936 shares of Common Stock (representing 5.0% of the current issued and outstanding Common Stock) in the next twelve months. The Company expects that any repurchases will be made through the facilities of Nasdaq at prevailing market prices, in accordance with applicable securities laws.

The ATM Program and Stock Repurchase Program do not require the Company to sell or purchase any minimum number of shares of the Common Stock. The timing and extent to which the Company may sell or repurchase Common Stock will depend upon, among other things, market conditions, share price, liquidity, regulatory requirements and other factors, and sales and repurchases of Common Stock may be commenced or suspended by the Company at any time without prior notice to its stockholders. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, solicitation or sale will be made only by means of the Prospectus and the accompanying Prospectus Supplement.

About Hut 8听

Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp.鈥檚 portfolio comprises twenty sites: ten Bitcoin mining, hosting, and managed services sites in Alberta, New York, and Texas, five cloud and colocation data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta.

Cautionary Note Regarding Forward鈥揕ooking Information

This press release includes 鈥渇orward-looking information鈥� and 鈥渇orward-looking statements鈥� within the meaning of applicable securities laws in Canada and the United States, including the United States Private Securities Litigation Reform Act of 1995 (collectively, 鈥渇orward-looking information鈥�). All information, other than statements of historical facts, included in this press release that address activities, events or developments that Hut 8 expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the business, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words 鈥渕ay鈥�, 鈥渨ould鈥�, 鈥渃ould鈥�, 鈥渟hould鈥�, 鈥渨ill鈥�, 鈥渋ntend鈥�, 鈥減lan鈥�, 鈥渁nticipate鈥�, 鈥渁llow鈥�, 鈥渂elieve鈥�, 鈥渆stimate鈥�, 鈥渆xpect鈥�, 鈥減redict鈥�, 鈥渃an鈥�, 鈥渕ight鈥�, 鈥減otential鈥�, 鈥渋s designed to鈥�, 鈥渓ikely鈥� or similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking information may include, but is not limited to, statements regarding the Company鈥檚 ability to navigate the markets in which it operates, its capital strategy, approach to treasury management, growth objectives and focus on driving sustainable shareholder returns, proposed benefits of the ATM Program and Stock Repurchase Program, including impact on the Company鈥檚 business, financial condition, results of operations and to its shareholders, growth opportunities, the Company鈥檚 ability to achieve its objectives, the Company鈥檚 relationship with Coatue, the status of and potential registrations of the Common Stock underlying Coatue鈥檚 investment, the ATM Program, including sales, if any, under the ATM Program, the use of proceeds from sales of Common Stock under the ATM Program, if any, and the timing of and amount of Common Stock, if any, that may be repurchased by the Company under the Stock Repurchase Program.

Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. For factors that could cause actual results to differ materially from the forward-looking information in this press release, please see the risks described under the 鈥淩isk Factors鈥� section of the Registration Statement, the Prospectus Supplement, the Company鈥檚 Transition Report on Form 10-K for the transition period from July 1, 2023 to December 31, 2023, filed with the SEC on April 26, 2024, and Hut 8鈥檚 other public disclosure documents, which are available under the Company鈥檚 EDGAR profile at听www.sec.gov and SEDAR+ profile at听www.sedarplus.ca.

Hut 8 Corp. Investor Relations
Sue Ennis

Hut 8 Corp. Media Relations