Argo Blockchain Proposes Restructuring Plan to Avoid Insolvency, Partners with Growler Mining for Financial Support
Argo Blockchain plc has proposed a restructuring plan to address its financial issues and avoid insolvency. The plan involves a support agreement with Growler Mining, which will provide a senior secured multi-draw term loan for working capital. The restructuring requires High Court approval and is expected to be presented by August 29, 2025, with an effective date of November 30, 2025. If approved, Growler will acquire over 30% of Argo's voting rights, potentially triggering regulatory obligations.
Argo Blockchain plc has announced a proposed restructuring plan to address its capital structure and liquidity issues. The company has been facing significant financial uncertainty, as noted in its December 2024 financial reports. To prevent insolvency and liquidation, Argo has entered into a restructuring plan support agreement with Growler Mining Tuscaloosa, LLC. Growler will provide a senior secured multi-draw term loan to assist with working capital and the financial restructuring process. The restructuring plan, which needs to be sanctioned by the High Court of England and Wales, is expected to be presented by August 29, 2025. If approved, the plan will take effect by November 30, 2025, binding all affected creditors and members. Under the UK Takeover Code, the restructuring will result in Growler acquiring more than 30% of Argo’s voting rights, which may trigger additional regulatory obligations. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Argo Blockchain plc published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001654954-25-007500), on June 30, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
