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DGAP-News: Northern Data AG / Key word(s): Strategic Company Decision
PRESS RELEASE / IR RELEASE
Frankfurt am Main - May 27, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) a leading infrastructure supplier for Bitcoin mining and other HPC infrastructure solutions, successfully completed the sale of its U.S. subsidiary Whinstone US, Inc., which operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain, Inc. (NASDAQ: "RIOT"). The consideration for the transaction consists of approximately EUR 67 million in cash and 11.8 million shares of common stock of Riot Blockchain, Inc. As a result of the transaction, Northern Data AG holds approximately 12% of the total outstanding common stock of Riot Blockchain, Inc.
"Today marks an important milestone in Northern Data's young history and its ambition to build a versatile multi-site infrastructure network of efficient high-performance computing sites. With the successful sale and the resulting proceeds thereof Northern Data can further invest in its global asset base focused on providing efficient, fast, green and climate-neutral high-performance computing solutions," says Aroosh Thillainathan, CEO of Northern Data AG.
Greenhill served as exclusive financial adviser, Sullivan & Cromwell LLP acted as legal counsel to Northern Data AG.
27.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Northern Data AG
An der Welle 3
+49 69 34 87 52 25
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange
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DGAP News Service