Sidley represented Argo Blockchain plc, a global leader in cryptocurrency mining, on 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 Sidley corporate team was led by Tom M. Thesing 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.