On Monday, Gryphon Digital Mining, Inc. (NASDAQ:GRYP) announced it has entered into an agreement with lender Anchorage Lending CA, LLC, a subsidiary of Anchor Labs, Inc. d/b/a Anchorage Digital, to restructure the Company’s outstanding debt substantially.
Under the terms of the agreement, Gryphon’s remaining 304 BTC (approximately $18 million) liability to Anchorage Digital will be split between $13 million, which will convert into equity and pre-funded warrants and $5 million, which will remain as debt.
Anchorage Digital will be granted a seat on the Company’s Board of Directors.
The $13 million converts into 8.3 …
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