Bitfarms répond à la demande d’assemblée générale des actionnaires de Riot Platforms Inc.
Bitfarms Ltd. is facing a potential power struggle as Riot Platforms Inc. has made a move to take control of the company’s board of directors. Bitfarms has confirmed that it has received a request for a general meeting of shareholders from Riot, with the aim of seizing control of the board.
In response, Bitfarms has stated that its board of directors and management team are committed to acting in the best interests of the company and all its shareholders. To evaluate strategic alternatives and maximize shareholder value, Bitfarms has formed a special committee of independent directors. The committee has determined that Riot’s proposal of $2.30 per share significantly undervalues the company, and has proposed to enter into a confidentiality and standstill agreement with Riot to provide more information for a potentially improved offer.
Despite multiple invitations from the special committee, Riot has declined to engage constructively in the process, instead taking actions that are perceived as undermining the integrity of the process and harming the interests of Bitfarms’ other shareholders. Bitfarms’ board of directors and special committee remain focused on securing the best outcome for all shareholders.
The company has reaffirmed its commitment to engaging constructively with all shareholders and will review the request, providing updates in due course. Shareholders are not required to take any action at this stage. Bitfarms has enlisted Moelis & Company LLC as its financial advisor, while Skadden, Arps, Slate, Meagher & Flom LLP, Peterson McVicar LLP, and McMillan LLP are serving as legal advisors.
Innisfree M&A Incorporated and Laurel Hill Advisory Group have also been retained as strategic advisors and proxy solicitation agents in this high-stakes corporate battle. Stay tuned for further developments as this story unfolds.
