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Jefferson Capital Announces Pricing of Initial Public Offering

Jefferson Capital Announces Pricing of Initial Public Offering

Globe and Mail4 hours ago

MINNEAPOLIS, June 25, 2025 (GLOBE NEWSWIRE) -- Jefferson Capital, Inc. ('Jefferson Capital'), a leading analytically driven purchaser and manager of charged-off and insolvency consumer accounts, today announced the pricing of its underwritten initial public offering of 10,000,000 shares of common stock at an initial public offering price of $15.00 per share. Jefferson Capital is offering 625,000 shares of common stock, and certain existing stockholders are offering 9,375,000 shares of common stock. In addition, the underwriters of the offering have a 30-day option to purchase from the selling stockholders up to 1,500,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. Jefferson Capital will not receive any proceeds from the sale of shares by the selling stockholders.
Jefferson Capital's common stock is expected to begin trading on the Nasdaq Global Select Market on June 26, 2025 under the ticker symbol 'JCAP.' The offering is expected to close on June 27, 2025, subject to customary closing conditions.
Jefferies and Keefe, Bruyette & Woods, A Stifel Company, are acting as joint-lead book-running managers for the offering. Citizens Capital Markets, Raymond James, Truist Securities, Capital One Securities, DNB Carnegie, Regions Securities LLC and Synovus are acting as book-running managers for the offering. FHN Financial Securities Corp. and ING Financial Markets LLC are acting as co-managers for the offering.
A registration statement relating to the sale of these securities was declared effective by the Securities and Exchange Commission on June 25, 2025. The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from: Jefferies LLC, at Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 877-821-7388, or by email at prospectus_department@jefferies.com; or Keefe, Bruyette & Woods, Inc. by telephone at (800) 966-1559, or by e-mail at USCapitalMarkets@kbw.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Use of Forward-Looking Statements
This press release may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this press release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements.
About Jefferson Capital, Inc.
Founded in 2002, Jefferson Capital is an analytically driven purchaser and manager of charged-off and insolvency consumer accounts with operations in the United States, Canada, the United Kingdom and Latin America. It purchases and services both secured and unsecured assets, and its growing client base includes Fortune 500 creditors, banks, fintech origination platforms, telecommunications providers, credit card issuers and auto finance companies. Jefferson Capital is headquartered in Minneapolis, Minnesota with additional offices and operations located in Sartell, Minnesota, Denver, Colorado and San Antonio, Texas (United States); Basingstoke, England; London, England and Paisley, Scotland (United Kingdom); London, Ontario and Toronto, Ontario (Canada); as well as Bogota (Colombia).
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HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue
HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue

Globe and Mail

timean hour ago

  • Globe and Mail

HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue

This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024. San Antonio, Texas--(Newsfile Corp. - June 26, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, announces its results for the full year ended March 31, 2025 (all amounts in US dollars, unless otherwise indicated). FY2025 Financial Highlights: Total Revenue: $115.3 million, from digital currency mining and high-performance computing (HPC) hosting services. Digital currency mining revenue: $105.2 million, down 5.2% year-over-year mainly due to the April 2024 Bitcoin Halving and increased hash rate difficulty, mostly offset by 40% higher digital currency mining hashrate (from 4.5 EH/s at end of March 2024 to 6.3 EH/s at end of March 2025) and higher Bitcoin prices. HPC/AI Cloud Revenue: $10.1 million, representing approximately 3x growth year-over-year ($3.4 million FY2024), mainly due to expansion of GPU fleet earning AI Compute revenue, driven by strong demand for high-performance computing markets. Bitcoin Production: Mined 1,414 Bitcoin during the fiscal year, which contributed to HIVE's HODL position. Gross Operating Margins: $25.1 million in gross operating margin or 21.8%. G&A: $16.6 million, up from $13.2 million in FY2024 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay (representing 3x growth from 140 megawatts ("MW") to 440 MW of digital asset infrastructure), and the growth of its BUZZ HPC business (with the number of GPUs growing to over 5,000). Net Income: US GAAP net loss of $3.0 million. Adjusted EBITDA 1: $56.2 million in Adjusted EBITDA or 48.7% of total revenue. Digital Assets: Total digital currency assets valued at $181.1 million at the ended the fiscal year on March 31, 2025, including 2,201 Bitcoin. Management Insights Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented, "In Fiscal 2025, we continued our track record of disciplined growth. We expanded our operational hashrate from approximately 4.5 EH/s in March 31, 2024 to 6.3 EH/s in March 31 2025—a 40% increase achieved even as the post-halving landscape compressed industry economics. Further, we acquired 300 MW of hydro-powered green-energy sites in Paraguay that management believes has deepened our leadership bench with visionaries like Lieutenant General (Ret.) John R. Evans Jr, Gabriel Lamas, and cloud-computing pioneer Craig Tavares and will transform HIVE's growth in both the mining and HPC businesses. We are extremely excited about the remainder of this year as we scale our Bitcoin mining business to the Company's goal of 25 EH/s by December 31, 2025 and continue the strong growth in our Buzz HPC Business. I'd like to thank our dedicated employees and shareholders for their continued support. Looking forward, our mandate remains the same as it always has been: compound strong shareholder value through disciplined, high-return on invested capital ("ROIC") growth powered by green energy." Aydin Kilic, President & CEO of HIVE, stated, "The foundation we set in Fiscal 2025 with the acquisition of our 100 MW site in Valenzuela, Paraguay and the 200 MW site in Yguazú, Paraguay has set the stage for what management believes will be the most transformative chapter in HIVE's history. Since the end of Fiscal 2025, HIVE commissioned the first 100 MW at Yguazú two weeks ahead of its projected schedule, which nearly doubled our hashrate to 11.5 EH/s as of today, with 5.5 Bitcoin being produced daily. The announced exahash growth with the Paraguay expansions and the continued growth path for our Buzz HPC division, gives HIVE two high-revenue engines of growth. With Paraguay ramping weekly, new Bitmain S21+ Hydro machines, and our diversified infrastructure strategy firmly in place, management's focuses are driving lower production costs, expanding cash flow, and delivering sustainable long-term value for our shareholders, all while maintaining our green energy focused strategy. We have been strong in the sector when it comes to ROIC as well, with 22% ROIC achieved over the past 12 months, while keeping low general and administrative expenses per Bitcoin mined as well. I am incredibly proud of our team. 2025 is a transformative year for HIVE." Darcy Daubaras, CFO of HIVE, added, "This reporting period marks a significant milestone for our Company as we have transitioned our financial reporting framework from IFRS to US GAAP. This change aligns with our strategic objectives, enhances comparability with U.S.-listed peers, and supports our potential growth ambitions in U.S. capital markets. We remain committed to transparency and will continue to provide clear, consistent reporting as we move forward. With every megawatt and associated mining hardware for our 300 MW Paraguay expansion now fully funded, we are excited to be on track to deliver our target of 25 EH/s by US Thanksgiving—more than quadrupling our hashrate from March 2025. We believe the scale and efficiency gains from this expansion will significantly enhance our unit economics and drive significant shareholder returns. The initiatives launched in Fiscal 2025 represent the beginning of HIVE's transformation from a modest digital mining company into a globally scaled, sustainability-focused leader in Bitcoin infrastructure." The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the three months and year ended March 31, 2025 will be accessible on SEDAR+ at under HIVE's profile and on the Company's website at Q4 FY2025 Financial Highlights: Total Revenue: $31.2 million, from digital currency mining and high-performance computing (HPC) hosting services. Digital currency mining revenue: $28.1 million, up 5.5% sequentially from fiscal Q3 2025 mainly due higher average digital currency mining hashrate (from 5.4 EH/s in fiscal Q3 2025 to 5.9 EH/s in fiscal Q4 2025) and slightly higher Bitcoin prices. G&A: $5.3 million, up slightly from $4.6 million in Q3 FY2025 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay, and the growth of its BUZZ HPC business. Bitcoin Production: Mined 303 Bitcoin, down 6% sequentially from fiscal Q3 2025 due to increased hashrate difficulty. HPC Revenue: Buzz HPC revenue was a record $3.0 million during the quarter, up 18.5% sequentially, driven by strong demand for high-performance computing markets. Gross Operating Margins: $8.8 million in gross operating margin or 28.2%. Net Income: GAAP net loss of $52.9 million. Adjusted EBITDA 1: ($30.7) million in Adjusted EBITDA primarily due to quarter end non-cash revaluation 2 of ($26.4) million digital currencies held on balance sheet as a result of lower quarter end spot Bitcoin price. Since March 31, 2025, Bitcoin price has recovered to approximately $101,000 as of the date of this report. 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"Frank Holmes" Executive Chairman Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations for the three months and year ended March 31, 2025; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. 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Women in Manufacturing NY Hosts 'Powering the Future' Summit at Brooklyn Navy Yard
Women in Manufacturing NY Hosts 'Powering the Future' Summit at Brooklyn Navy Yard

Globe and Mail

timean hour ago

  • Globe and Mail

Women in Manufacturing NY Hosts 'Powering the Future' Summit at Brooklyn Navy Yard

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The discussion focused on the importance of partnerships between industry, education, and community organizations to ensure all communities have access to emerging opportunities, particularly in underrepresented and historically marginalized populations. Image courtesy of 90 Plus Media Group. Tours, Investment, and Closing Remarks Following the panel, attendees participated in guided tours of the Newlab facility and surrounding Brooklyn Navy Yard ecosystem. Attendees were divided into groups and led through curated experiences hosted by innovative companies including Nanotronics, offering a behind-the-scenes view into the technologies shaping the future of manufacturing, automation, and design. The day concluded with closing remarks from Dominique McDuffie-Turner and Lindsay Greene, President and CEO of the Brooklyn Navy Yard Development Corporation (BNYDC). 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A special highlight was welcoming the talented students from Brooklyn Tech High School — their curiosity, ambition, and thoughtful questions reminded us why it's so important to invest in education and mentorship. MSL was honored to contribute to the conversation, speaking on the importance of education, community, and creating opportunities for those coming after us. The positive energy in the room was contagious, and it's clear this is just the beginning of what we can build together. Thank you to WIM and all the incredible attendees for making this event a meaningful platform for connection, learning, and progress. Let's keep this momentum going!' Emily Gonthier, Chief of Staff, Newlab, said, 'At Newlab, we believe the future must be built in partnership—with diverse voices, visionary thinking, and real access. Hosting this summit affirms our commitment to building a workforce ecosystem grounded in inclusion and innovation.' Statement from Build Submarines and the Maritime Industrial Base (MIB): 'Build Submarines and MIB are proud to support events that elevate workforce potential and spotlight pathways into essential trades. Collaboration with organizations like WIMNY ensures that the next generation understands their power, value, and potential.' Image courtesy of 90 Plus Media Group. About Women in Manufacturing (WIM) Women in Manufacturing (WIM) is a national trade association dedicated to supporting, promoting, and inspiring women who have chosen careers in manufacturing. Through professional development, mentorship, workforce programming, and advocacy, WIM works to ensure women not only enter the industry but lead and thrive within it. The WIM New York Chapter (WIMNY) serves as a regional hub, driving inclusive growth and advancing the next generation of women leaders in manufacturing, innovation, and the skilled trades across the state. Take a sneak peak into the WIM Event at NewLab on YouTube. About Community Architects Community Architects is a workforce innovation and strategy firm dedicated to building bridges between industry, education, and underserved communities. Through programs such as Beauty in STEAM, the STEAM Skills Clinic, and convenings like Powering the Future, Community Architects leads with impact to reimagine what career-connected learning can look like in the 21st century. To learn more, visit the official website, About the Brooklyn Navy Yard Development Corporation The Brooklyn Navy Yard Development Corporation (BNYDC) is a not-for-profit corporation that serves as the real estate developer and property manager of the Yard on behalf of its owner, the City of New York. BNYDC's mission is to fuel New York City's economic vitality by creating and preserving quality jobs, growing the City's modern industrial sector and its businesses, and connecting the local community with the economic opportunity and resources of the Yard. BNYDC's vision is a vibrant and dense, modern manufacturing community where businesses are provided the stability needed to invest, grow, and thrive and where diverse candidates can attain quality jobs. Website: For press inquiries or additional materials, please contact info@ Media Contact Company Name: Community Architects Contact Person: Virginia Jean, CMO Email: Send Email City: Brooklyn State: New York Country: United States Website:

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