Debt-for-equity swap puts Growler Mining in control of struggling Argo Blockchain

Argo Blockchain is undergoing a major restructuring after falling into deep financial ￰0￱ main lender, Growler Mining, will now take over the crypto-mining ￰1￱ a court-supervised plan, Project Triumph, Growler will convert its debt into ownership, taking a major stake in the company’s ￰2￱ restructuring was filed under the UK Companies ￰3￱ revealed that Growler will convert about $7.5 million in secured loans and provide new funding in exchange for 87.5% of Argo’s recapitalized ￰4￱ chart.) and ADR holders are informed that they may lose substantial value or have their holdings ￰5￱ of the senior unsecured notes are in a tough spot because the company hasn’t paid the interest and doesn’t see a way to return the full amount without this reorganization.

However, if any class votes it down and the Court doesn’t override, the plan may not succeed. Meanwhile, a new retail advocate has been appointed for non-institutional investors to review the plan’s fairness and represent retail holders’ concerns to the ￰6￱ you're reading this, you’re already ￰7￱ there with our newsletter .