Q: Please comment on the $100 mil coupon raise. How does this support its strategy and future potential?
5i Research Answer:
HIVE is up 59% in the past year. The stock fell on the news of the financing, but it is important to note it is still up for the week. The size of the deal was upsized, implying good demand. They are 0% interest, which is attractive, but only at a small conversion premium ($2.57US$). It is a small company, and growing, and does require capital. As far as deals go, we would consider it 'not bad'. The company will use the proceeds for expansion and general corporate purposes.