Anchorage Digital to become largest shareholder and join Gryphon Digital Mining Board
Gryphon restructures Anchorage Digital debt of 304 BTC (approximately $18 million1) to increase shareholder equity and reduce outstanding debt by over 70%, by:
converting approximately $13M of debt into equity and pre-funded warrants at $1.10/share, a significant premium to current market price;
restructuring the remaining $5 million debt as follows:
three year term;
4.25% interest rate;
interest only payments during the term;
conversion features as described below; and
payable in USD over 3 years;.
granting Anchorage Digital additional warrants to purchase 2 million shares at $1.50/share; and
Anchorage Digital will become a key advisor to the Company and will be granted a seat on Gryphon's Board of Directors