Bitfarms Ltd (BITF)

[TaperT2]

Possible Delist the FARM , F them tryn ta Gangster the Farm ….


Riot Platforms, Inc. Reports Beneficial Ownership of 10% in Bitfarms Ltd.


Riot Platforms announces the acquisition of 3,002,350 common shares of Bitfarms , increasing its ownership to 10% as of May 28, 2024.
The shares were purchased at an average price of $2.19 per share, totaling $6.57 million.
Riot's move follows a non-binding proposal to acquire all outstanding shares of Bitfarms at $2.30 per share, involving a mix of cash and Riot stock.
Riot intends to request a special shareholder meeting to nominate new directors and discuss the proposal.
If successful, the acquisition could result in significant changes, including a shift in control, board reconfiguration, and delisting from major stock exchanges.

Positive
• Riot Platforms increased its stake in Bitfarms to 10%.
• Acquired 3,002,350 shares at an average price of $2.19 per share.
• Total investment of $6.57 million.
• Proposal to acquire all outstanding shares at $2.30 per share.
• Plan to nominate new directors to the Bitfarms board.


Negative
• Potential delisting of Bitfarms from major stock exchanges.
• Possible changes in Bitfarms' board and management structure.
• Uncertain outcome of Riot's non-binding acquisition proposal.

https://www.stocktitan.net/news/RIOT/riot-platforms-inc-reports-beneficial-ownership-of-10-in-bitfarms-b7etldr4w1km.html.