Argo Blockchain’s US$127,875,000 IPO

Sidley Austin advised Argo Blockchain on the deal, while Latham & Watkins represented the underwriters.

Argo Blockchain plc, a global leader in cryptocurrency mining, announced its initial public offering of 8,525,000 American Depositary Shares (ADSs), representing an aggregate of 85,250,000 ordinary shares, at a public offering price of US$15 per ADS. The Company has raised aggregate gross proceeds of US$127,875,000 before deducting underwriting discounts and commissions. Each ADS offered represents 10 ordinary shares of Argo Blockchain. The ADSs are being offered in a registered public offering in the United States. The offering closed on September 27, 2021.

The underwriters included Jefferies LLC, Barclays Capital Inc., Canaccord Genuity LLC, Stifel Nicolaus Canada Inc, Compass Point Research & Trading, LLC, D.A. Davidson & Co, Ladenburg Thalmann & Co. Inc, Roth Capital Partners, LLC, finnCap Ltd and Tennyson Securities, a trading name of Shard Capital LLP.

The Sidley corporate team was led by Tom M. Thesing (Picture) and Nigel D.J. Wilson (London) and Martin A. Wellington (Palo Alto), and included associates Lillian Bond (London), Nick DeAngelis (Dallas), Nicole Garrett, and Akina Newbraugh (New York). Lilya Tessler (Dallas) and Daniel Engoren (New York) led the team with respect to blockchain, cryptocurrency, and related securities law considerations. Kenneth W. Irvin (Washington, D.C.) and Heather M. Palmer (Houston) led the team on energy and environmental matters. Matthew E. Johnson and Teresa A. Napoli (Chicago) led the Employee Benefits and Executive Compensation team.

Latham & Watkins represented the underwriters in the offering with a capital markets team led by New York partners Stelios Saffos and Adam Gelardi and Chicago associate Scott Westhoff, with New York associate Roger Yarett, and Chicago associate Ariel Redlich. Advice was also provided on UK securities matters by London partner Anna Ngo; on data privacy & security matters by Bay Area counsel Robert Blamires, with Bay Area associate Adriana Beach; on IP matters by New York/Washington, D.C. partner Jenny Cieplak; on environmental matters by New York associate Andrew Westgate and Benjamin Einhouse; on sanctions matters by Washington, D.C. partner Eric Volkman, with Washington, D.C. associate Matthew Gregory; on FCPA matters by Washington, D.C. partner Daniel Dominguez, with Washington, D.C. associate Emani Walks; on tax matters by New York partner Jiyeon Lee-Lim, with London associate Ted Gkoo; and on benefits & compensation matters by New York partner Jennifer Pepin.

Involved fees earner: Adriana Beach – Latham & Watkins; Robert Blamires – Latham & Watkins; Jenny Cieplak – Latham & Watkins; Daniel Dominguez – Latham & Watkins; Benjamin Einhouse – Latham & Watkins; Adam Gelardi – Latham & Watkins; Ted Gkoo – Latham & Watkins; Matthew Gregory – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; Anna Ngo – Latham & Watkins; Jennifer Pepin – Latham & Watkins; Ariel Redlich – Latham & Watkins; Stelios Saffos – Latham & Watkins; Eric Volkman – Latham & Watkins; Emani Walks – Latham & Watkins; Andrew Westgate – Latham & Watkins; Scott Westhoff – Latham & Watkins; Roger Yarett – Latham & Watkins; Lillian Bond – Sidley Austin LLP; Nick DeAngelis – Sidley Austin LLP; Daniel Engoren – Sidley Austin LLP; Nicole Garrett – Sidley Austin LLP; Kenneth Irvin – Sidley Austin LLP; Matthew Johnson – Sidley Austin LLP; Teresa Napoli – Sidley Austin LLP; Akina Newbraugh – Sidley Austin LLP; Heather Palmer – Sidley Austin LLP; Lilya Tessler – Sidley Austin LLP; Thomas Thesing – Sidley Austin LLP; Martin Wellington – Sidley Austin LLP; Nigel Wilson – Sidley Austin LLP;

Law Firms: Latham & Watkins; Sidley Austin LLP;

Clients: Argo Blockchain Plc; Barclays Capital ; Canaccord Genuity; Compass Point Research & Trading; D.A. Davidson & Co.; FinnCap Ltd; Jefferies; Ladenburg Thalmann & Co.; Roth Capital Partners, LLC; Stifel Nicolaus Canada Inc.; Tennyson Securities;

Martina Bellini

Author: Martina Bellini