DURHAM, NORTH CAROLINA – MGT Capital Investments, Inc announced today that it has amended its existing equity line of credit with L2 Capital to allow MGT the flexibility to put to L2 up to 12.3 million shares of the Company’s common stock from time to time at the Company’s discretion.
The Company intends to promptly file an S-1 Registration Statement with the U. S. Securities and Exchange Commission with full details of the Equity Purchase Agreement (“EPA”).
No securities will be sold until the Company receives notice of Effectiveness by the SEC.
The amended EPA was granted by L2 with no further commitment fee or other cost. At the time of execution of the amendment, the value of the commitment by L2 was $35 million. Robert Ladd, President and CEO of MGT stated, “A vote of confidence of this size lends to the growing evidence of the profitability of our current Bitcoin mining efforts. We can’t wait to deploy this capital in an accretive manner to further our goal of being the largest cryptocurrency entity in North America.”
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