- Plans call for acquisition of a majority interest in a bitcoin mining company, primarily in exchange for new shares in Northern Data AG to be issued through a corresponding capital increase against a contribution in kind, excluding shareholders’ subscription rights.
- Subject to the positive outcome of the due diligence review and necessary appraisal and valuation procedures, the closing of the transaction will require the approval of the Supervisory Board of Northern Data AG and shareholders of the target company.
- Northern Data expects that the transaction could be completed in September 2021.
Frankfurt am Main – September 3, 2021 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) is planning to acquire a majority interest in a bitcoin mining company. The transaction would essentially involve a capital increase in connection with a contribution in kind using existing Authorized Capital 2021. As a result, the transaction would require no further approval by shareholders of Northern Data AG.
The purchase price of up to USD 475 million would cover the acquisition and commercial operation of some 33,000 ASIC miners. The hardware acquired would represent a strategic asset build-up and complement Northern Data’s existing bitcoin hosting infrastructure solutions.
Northern Data would generate initial revenue and a corresponding contribution to EBITDA upon closure of the transaction. The anticipated positive impact at the level of the forecast for the 2021 financial year would be described in detail when the annual report for 2020 is published.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.