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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Dominion Capital Provides $20MM Financing to Bitfarms
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Lenders/Participants
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Dominion Capital LLC [Lender]
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Structure
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Loan Facility
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Amount
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$20.000
Million
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Borrower(s)
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Bitfarms Ltd.
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Description
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Strategic debt financing to fund the Company’s ongoing operational expansion. The secured Loan Financing is being provided by New York-based Dominion Capital LLC and will be made available in four $5,000,000 tranches tied to the ongoing satisfaction of customary covenants and various milestones including Bitfarms’ infrastructure build-out and associated mining hardware purchases. Amounts drawn under the facility will bear a 10% interest rate with each tranche carrying a 24-month term and balloon repayment on outstanding balances at maturity. Bitfarms will make regular monthly principal and interest payments equivalent to a minimum of 10% of aggregate cryptocurrency production. As part of the Loan Financing, Dominion will receive approximately 6.7M Bitfarms Ltd. (Canada) equity purchase warrants (the “ Warrants ”) if the full US$20,000,000 is drawn. The Warrants can be exercised to acquire common shares of Bitfarms Ltd. (Canada) with a term of five years from the date of issuance at an exercise price of US$0.40 per share. 1.67M Warrants have been granted to Dominion concurrent with the first $5,000,000 funding tranche which has been completed. In the event that the Arrangement is not completed, the Warrants shall become an obligation of the Company.
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Industry
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Technology
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ABL Advisor
Deal Tables
2024
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