Tribunal rules crypto company’s takeover defence offside [Investment Executive - News]
Bitfarms Ltd. (BITF)
Company Research
Source: Investment Executive - News
A crypto mining company wasn’t justified in adopting an anti-takeover defence triggered below the basic threshold of a prospective buyer building a 20% stake in a target company, Ontario’s Capital Markets Tribunal ruled. The decision came in response to an application from Riot Platforms Inc., a Bitcoin mining company which sought an order cease trading a shareholder rights plan that was adopted by another Bitcoin miner, Bitfarms Ltd. That was in response to Riot pursuing a possible takeover of Bitfarms. According to the tribunal’s decision, Bitfarms set the trigger for the plan at 15% — meaning that the plan would take effect when a prospective buyer built up a stake in the company that crossed the 15% mark. Bitfarms adopted its shareholder rights plan in June. At that point, existing shareholders would be entitled to purchase more shares in the company at half price, making a potential takeover much costlier. Riot asked the tribunal to cease trade Bitfarms’ plan, arguing that th
Show less
Read more
Impact Snapshot
Event Time:
BITF
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
BITF alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
BITF alerts
High impacting Bitfarms Ltd. news events
Weekly update
A roundup of the hottest topics
BITF
News
- Do Redditors Think That Bitfarms Ltd. (BITF) Has a Big Upside Potential? [Yahoo! Finance]Yahoo! Finance
- Bitfarms Announces Results of Special Meeting of Shareholders [Canadian Business Journal (Canada)]Canadian Business Journal
- Bitfarms Announces Results of Special Meeting of ShareholdersGlobeNewswire
- Market movers: Stocks seeing action on Wednesday - and why [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Clear Street Launches Equity Research Group [Yahoo! Finance]Yahoo! Finance
BITF
Sec Filings
- 11/13/24 - Form 6-K
- 11/12/24 - Form 6-K
- 11/7/24 - Form 144
- BITF's page on the SEC website