Bloomberg Law
Dec. 12, 2022, 6:03 PM

Argo Blockchain Says Company at Risk of Having Insufficient Cash

Hari Govind
Hari Govind
Bloomberg News

Argo Blockchain said it’s at risk of having insufficient cash to support ongoing business operations within the next month.

  • The company is in advanced negotiations with a third party to sell certain assets, engage in an equipment financing transaction
  • Hopeful that it will be able to consummate the transaction outside of a voluntary Chapter 11 bankruptcy filing in US
  • Hired McDermott Will & Emery as legal advisers, Berkeley Research Group, as financial advisers, and Stifel GMP and its affiliate, Miller Buckfire & Co. as investment bankers
  • Certain draft materials were inadvertently published as a test page on the company’s website ...