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Hut 8 Mining Corp
Symbol HUT
Shares Issued 143,731,437
Close 2021-09-15 C$ 11.06
Recent Sedar Documents

Hut 8 prices $150.05-million (U.S.) public offering

2021-09-15 09:54 ET - News Release

An anonymous director reports

HUT 8 MINING ANNOUNCES PRICING OF $US150 MILLION PUBLIC OFFERING

Hut 8 Mining Corp. has priced its previously announced underwritten public offering in the United States and Canada.

The company has agreed to sell to the underwriters 17.55 million common shares at a price of $8.55 (U.S.) per share resulting in total gross proceeds to the company of $150,052,500 (U.S.).

The offering is expected to close on Sept. 17, 2021, subject to customary closing conditions, including approvals of the Nasdaq Stock Exchange and the Toronto Stock Exchange.

In addition, the company has granted the underwriters an overallotment option, exercisable for a period of 30 days from the date of the closing of the offering, to purchase up to 2,632,500 additional common shares, representing 15 per cent of the total number of common shares to be sold pursuant to the offering.

The company anticipates the net proceeds of the offering will be used to support the growth of its business including to finance capital investments in digital assets mining equipment to increase mining capacity, for working capital and other general corporate purposes and potentially for strategic partnerships, joint ventures or acquisitions.

Canaccord Genuity is acting as the sole bookrunner for the offering and Stifel GMP and Craig-Hallum are acting as co-managers for the offering.

In connection with the offering, the company filed a preliminary prospectus supplement, and a final prospectus supplement will also be filed, with the U.S. Securities and Exchange Commission as a supplement to the base shelf prospectus included in the company's effective registration statement on Form F-10 (SEC File No. 333-254059) under the U.S.-Canada multijurisdictional disclosure system (MJDS). The company also filed a preliminary prospectus supplement, and will file a final prospectus supplement, to its base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada. The offering will be made in the U.S. only by means of the registration statement, including the base shelf prospectus and applicable prospectus supplement and in Canada only by means of the base shelf prospectus and applicable prospectus supplement. Such documents contain important information about the offering. Copies of the registration statement and the preliminary prospectus supplement can and will be found on EDGAR and copies of the base shelf prospectus and the applicable prospectus supplement can and will be found on SEDAR. Copies of such documents may also be obtained from any of the following sources: Canaccord Genuity LLC, attention: syndicate department, 99 High St., 12th Floor, Boston, Mass., 021990, by e-mail at prospectus@cgf.com; or by contacting the corporate secretary of the company at Suite 500, 24 Duncan St., Toronto, Ont., Canada, M5V 2B8, or by e-mail at info@hut8mining.com.

Prospective investors should read the base shelf prospectus and the prospectus supplement as well as the registration statement before making an investment decision.

About Hut 8 Mining Corp.

Hut 8 is one of North America's largest innovation-focused digital asset miners, supporting open and decentralized systems since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly traded company globally. Hut 8 is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin's market direction. The company's multipronged business strategy includes profitable digital asset mining, white-label high-performance compute hosting, as well as yield and income programs leveraging its bitcoin held in reserve. Having demonstrated rapid growth and a stellar balance sheet, Hut 8 was the first publicly traded miner on the TSX and the first Canadian miner to be listed on the Nasdaq Global Select Market. Hut 8's team of business building technologists are believers in decentralized systems, stewards of powerful industry-leading solutions, and drivers of innovation in digital asset mining and high-performance computing, with a focus on ESG (environmental, social and governance) alignment. Through innovation, imagination and passion, Hut 8 is helping to define the digital asset revolution to create value and positive impacts for its shareholders and generations to come.

We seek Safe Harbor.

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