skip to main content

Back to all Representative Matters
Jan 11, 2018

Blockchain Power Trust Closes $43 Million Brokered Private Placement and Acquisition of 45MW Wind Power Project

Richard M. Kimel, Christopher F. Berrigan, Daniel Everall, Liam Tracey-Raymont and Sean Green

Blockchain Power Trust (formerly Transeastern Power Trust, and the “Trust” or “Blockchain Power”) (TSXV: BPWR.UN) owns and operates renewable energy assets in Romania. The Trust is in the process of establishing a data center operation containing hardware to mine Bitcoin predominantly using the Trust’s own renewable energy. 

On January 8, 2018, Blockchain Power completed a brokered private placement of 90,047,832 units at a price of $0.48 per unit for gross proceeds of approximately $43 million (the “Offering”). Each unit issued pursuant to the Offering consisted of one trust unit of the Trust and one-half of one trust unit purchase warrant. Each trust unit purchase warrant entitles the holder thereof to acquire one trust unit at an exercise price of $0.80 until January 8, 2020.

A portion of the net proceeds of the Offering was used in connection with the acquisition of a 45 MW wind farm located in the Dobrogea Region of Romania (the “OMV Acquisition”) for a total purchase price of €23 million.

Upon closing of the Offering, Blockchain Power also commenced the recapitalization of approximately $43 million of unsecured convertible debentures and other indebtedness.

Aird & Berlis LLP acted for Blockchain Power in connection with the OMV Acquisition, the Offering and the debt recapitalization with a team that included Richard Kimel, Christopher Berrigan, Daniel Everall, Liam Tracey-Raymont (Capital Markets), and Sean Green (articling student).

Areas of Expertise

Related Representative Matters

Representative Matters
A&B Acts in Formation of Skyline Mortgage Investment Trust and Financing of up to $13 Million Margaret T. Nelligan, Anne E. Miatello, Amy Marcen-Gaudaur, Barbara Worndl, Neil Bass and Carol J. Burns May 22, 2018 Aird & Berlis acted for Skyline Enterprises Management Inc. in the formation of Skyline Mortgage Investment Trust) and the private placement offering of units for gross proceeds of up to $13 million.
Representative Matters
Spectra7 Microsystems Inc. Completes $15.3 Million Bought Deal Offering Richard M. Kimel, Sherri M. Altshuler, Anne E. Miatello, Christopher F. Berrigan, Liam Tracey-Raymont, Amy Marcen-Gaudaur and Barbara Worndl Jan 18, 2018 Spectra7 Microsystems Inc. , a leading provider of high-performance analog semiconductor products for broadband connectivity markets, recently completed a $15.3 million bought deal public offering of units.
Representative Matters
Baylin Technologies Inc. Completes Acquisition of Radio Frequency and Microwave Divisions of Advantech Wireless Inc. Richard M. Kimel, Sean Mason, Amy Marcen-Gaudaur, Matthew V. Liberatore, Aaron T. Collins, Kyle B. Plunkett, R. Grant Cansfield, Fiona Brown, Sean Green and Shannon L. Corregan Jan 18, 2018 Baylin Technologies Inc., a leading global wireless technology company with over 39 years of experience in designing, producing and supplying innovative antennas, recently completed an acquisition of assets from the radio frequency and microwave divisions of Advantech Wireless Inc. and certain of...