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Argo Blockchain Suspends Trading in US Shares for 24 Hours
The company said earlier this month it was close to restructuring without having to declare bankruptcy.
Argo Blockchain, a crypto miner whose shares trade on the London Stock Exchange (ARB) and Nasdaq (ARBK), said it requested a 24-hour suspension of U.S. trading. U.K. markets are closed Tuesday.
The London-based company, which has been in talks to secure financing, said it intends to make a statement before the start of trading on Wednesday.
STORY CONTINUES BELOW
On Dec. 12, the company said it was close to restructuring without having to declare bankruptcy. At that time, it said it was in advanced negotiations to sell some of its assets and carry out an equipment financing transaction to strengthen its balance sheet and improve its liquidity.
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
