HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced on Tuesday that it has established an at-the-market (ATM) equity program allowing the company to sell up to US$300 million worth of common shares into the public markets over time.
This program provides HIVE with a mechanism to raise capital gradually as needed, rather than through a single large offering.
The company has entered into an equity distribution agreement with a syndicate of investment banks and brokers, which will act as agents for the share sales.
Under the program, HIVE may issue shares at prevailing market prices on the TSX Venture Exchange and Nasdaq, with timing and volume at the company’s discretion.
HIVE is not required to sell any shares under the plan, and the equity program will remain in place until either the full US$300 million capacity is used or the agreement is terminated by the company or the participating agents.