Latest news with #equityOffering
Globe and Mail
3 days ago
- Business
- Globe and Mail
Digi Power X Establishes US$100 Million at-the-Market Equity Program to Accelerate Growth
This news release constitutes a 'designated news release' for the purposes of the Company's prospectus supplement dated May 30, 2025 to its short form base shelf prospectus dated May 15, 2025. MIAMI, May 30, 2025 (GLOBE NEWSWIRE) -- Digi Power X Inc. (' Digi Power X ' or the ' Company ') (Nasdaq: DGXX / TSXV: DGX), a vertically integrated power infrastructure company focused on developing cutting-edge data centers for high-performance computing, is pleased to announce that it has entered into an at-the-market sales agreement (the ' ATM Agreement ') with A.G.P./Alliance Global Partners (the ' Agent '). At-the-Market Offering Pursuant to the ATM Agreement, the Company and the Agent will implement an 'at-the-market' equity offering program, under which the Agent may issue and sell from time to time such number of subordinate voting shares of the Company (the ' SV Shares ') having an aggregate offering price of up to US$100 million (the ' ATM Equity Program '). A cash commission of up to 3.0% on the aggregate gross proceeds raised under the ATM Equity Program will be paid to the Agent in connection with its services. The facility is intended as a flexible capital access tool to support Digi Power X's strategic roadmap. The Company intends to use the net proceeds of the ATM Equity Program, if any, primarily for general corporate purposes, including funding ongoing operations and/or working capital requirements, completing construction on the Company's data center, repaying indebtedness outstanding from time to time and completing potential acquisitions to expand mining capacity. 'This filing ensures we have access to low-cost growth capital only if and when needed,' said Michel Amar, Chief Executive Officer of Digi Power X. 'We are operating from a position of strength—debt-free, with solid cash reserves—and remain focused on scaling our AI-ready Modular Solution platform in collaboration with Super Micro, as previously announced.' Since the SV Shares will be distributed at trading prices prevailing at the time of the sale, prices may vary between purchasers during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of the Company's management and in accordance with the terms of the ATM Agreement. To date, no SV Shares have been distributed by the Company pursuant to the ATM Agreement. Sales of SV Shares, if any, under the ATM Equity Program are anticipated to be made in transactions that are deemed to be 'at-the-market distributions' as defined in National Instrument 44-102 Shelf Distributions, as sales made directly on the Nasdaq Capital Market or another trading market for the shares in the United States at the market price prevailing at the time of each sale. No SV Shares will be offered or sold under the ATM Equity Program on the TSX Venture Exchange or any other trading market in Canada. The ATM Equity Program may be terminated by either party at any time. The offer and sale of the SV Shares under the ATM Equity Program will be made by means of a prospectus supplement dated May 30, 2025 (the ' Prospectus Supplement ') to the Company's short form base shelf prospectus dated May 15, 2025 (the ' Base Shelf Prospectus ' and, together with the Prospectus Supplement, the ' Prospectus ') and U.S. registration statement on Form F-10 (the ' Registration Statement '), which includes the Base Shelf Prospectus. The Registration Statement was declared effective by the United States Securities and Exchange Commission (the ' SEC ') on May 20, 2025. The Prospectus has been filed with the applicable provincial regulatory authorities in Canada and the SEC. The Prospectus is available on the SEDAR+ website maintained by the Canadian Securities Administrators at and is available on the SEC's EDGAR website at This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The SV Shares referred to in this news release may not be offered or sold in the United States absent registration or an applicable exemption from registration. About Digi Power X Digi Power X is an innovative energy infrastructure company that develops cutting-edge data centers to drive the expansion of sustainable energy assets. For further information, please contact: Michel Amar, Chief Executive Officer Digi Power X Inc. Investor Relations T: 888-474-9222 Email: IR@ Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Except for the statements of historical fact, this news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking information') that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes statements with respect to the future issuance of SV Shares sold under the ATM Equity Program, the aggregate gross proceeds of the ATM Equity Program, the use of proceeds from any sales of SV Shares under the ATM Equity Program and information about potential further improvements to profitability and efficiency across the Company's operations, including, as a result of the Company's expansion efforts, potential for the Company's long-term growth and clean energy strategy, and the business goals and objectives of the Company. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: market conditions and other factors that may affect the Company's ability to utilize the ATM Equity Program and the prices at which the Company may sell SV Shares in the ATM Equity Program; future capital needs and uncertainty of additional financing; share dilution resulting from equity issuances; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; effects on Bitcoin prices as a result of the most recent Bitcoin halving; development of additional facilities and installation of infrastructure to expand operations may not be completed on the timelines anticipated by the Company, or at all; deployment of artificial intelligence and high-performance computing infrastructure may not be completed on the timelines anticipated by the Company, or at all; ability to access additional power from the local power grid and realize the potential of the clean energy strategy on terms which are economic or at all; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; development of additional facilities to expand operations may not be completed on the timelines anticipated by the Company; ability to access additional power from the local power grid; an increase in natural gas prices may negatively affect the profitability of the Company's power plant; the digital currency market; the Company's ability to successfully mine digital currency on the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company's filings at and The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about, among other things, market conditions and other factors that may affect the Company's ability to utilize the ATM Equity Program and the prices at which the Company may sell SV Shares in the ATM Equity Program; the dilutive effect of issuances of SV Shares in the ATM Equity Program, the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company's assets going forward; the Company's ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies on the cloud will be consistent with historical prices; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the negative impact of regulatory changes in the energy regimes in the jurisdictions in which the Company operates; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainties therein. The Company undertakes no obligation to revise or update any forward-looking information other than as required by applicable law.
Yahoo
4 days ago
- Business
- Yahoo
Sable Offshore Corp. (SOC): A Bull Case Theory
We came across a bullish thesis on Sable Offshore Corp. (SOC) on Welfare Capital Research's Substack. In this article, we will summarize the bulls' thesis on SOC. Sable Offshore Corp. (SOC)'s share was trading at $32.10 as of 23rd May. SOC's trailing and forward P/E were 47.20 and 1670 respectively according to Yahoo Finance. An oil rig pumping station with a clear sky behind it, illustrating the company's wide range of activities in the oil and gas business. Sable Offshore (SOC) delivered a major catalyst with the announcement of a production restart at platform Harmony and the near-completion of onshore pipeline hydrotests, reigniting investor confidence in the stock. Shares surged over 60% within a week, reaching new all-time highs from a previously depressed base. The move prompted a timely reentry by the writer, influenced by a fellow investor who had framed the core bullish thesis effectively. Even after the sharp rally, shares were seen as attractive around $30 due to reduced risk and the potential for strong future capital returns, including a meaningful dividend yield. On the heels of this rally, Sable executed a $290 million equity offering at $29.50, resulting in roughly 10% dilution. However, this was seen as a net positive, especially considering CEO Jim Flores—who owns 20% of the company—participated in the dilution himself, signaling alignment rather than shareholder exploitation. The market reaction was muted, with shares only down about 1% post-offering, reflecting investor approval. The raise boosts Sable's cash position to just under $500 million, providing ample liquidity to scale production and execute its growth strategy. With a $1.5 billion mixed securities shelf filed in April, future capital raises—likely in the form of debt—are expected to refinance $850 million owed to Exxon, potentially on better terms given market support. The author holds a 15% portfolio allocation to SOC at a $24.22 average cost, reinforcing conviction in the name and positioning for significant upside as production ramps and financial optionality increases. Previously, we have covered Sable Offshore Corp. (SOC) in January 2025 wherein we summarized a bullish thesis by Kooky_Lime1793 on r/wallstreetbets. In the reddit post, Sable Offshore (NYSE:SOC) was highlighted as a compelling turnaround story due to its acquisition of the Santa Ynez Unit from ExxonMobil at a steep discount. The user emphasized the asset's massive production potential, with projections of up to 30 million barrels annually and free cash flow of up to $1.65 billion, offering a nearly 20x upside in the best-case scenario. Despite regulatory risks, the author argued that successful production restart and shareholder return initiatives could drive the stock well above $40. Since our last coverage, the stock is up 40.17% as of 26th May. Sable Offshore Corp. (SOC) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held SOC at the end of the fourth quarter which was 22 in the previous quarter. While we acknowledge the risk and potential of SOC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SOC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
TPG (NasdaqGS:TPG) Raises US$992 Million in Follow-On Equity Offering
TPG recently completed a follow-on equity offering, raising $992 million, and launched TPG Sports with notable partnerships. These developments came amidst a rebound in the broader market, which partially offset earlier declines, as showcased by a 13% rise in TPG's share price over the past month. The company's Q1 revenue and net income growth, despite a slight drop in basic earnings per share, may have positively supported this uptrend. Meanwhile, speculation over potential acquisitions like Brighthouse Financial appeared not to deviate significantly from market performance, which saw a 1% decline recently. We've identified 3 possible red flags with TPG (at least 1 which is a bit concerning) and understanding the impact should be part of your investment process. This technology could replace computers: discover the 22 stocks are working to make quantum computing a reality. TPG's recent follow-on equity offering that raised US$992 million and the launch of TPG Sports come at a time of broader market recovery. This capital injection and strategic expansion into sports, potentially bolstering partnerships and market reach, might influence TPG's revenue and earnings positively. The company's recent share price increase of 13% over the past month aligns with these developments but still remains below the analyst consensus price target of US$52.92 by approximately 12%. Over the longer term, TPG's total returns, including dividends, reflected an impressive growth of 87.33% over three years. In contrast, over the past year, TPG underperformed the broader US market, which achieved an 11.1% return, and similarly lagged behind the Capital Markets industry, which saw a 23.6% increase. These contrasting timelines highlight potential market volatility and the challenges TPG faces to sustain its growth trajectory. The recent developments may also impact revenue and earnings forecasts as TPG taps into new investments and opportunities. While analysts forecast revenue to decrease by 7.6% annually over the next three years, the firm's growing transaction fees and strategic acquisitions could sustain its earnings growth, which is expected to increase significantly. However, the company's current price-to-earnings ratio and market conditions suggest cautious optimism about reaching the optimistic price target of US$53.15, which is around 13.1% higher than today's share price of US$46.19. Review our historical performance report to gain insights into TPG's track record. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:TPG. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
