Company: ARBK
Filing Date: 2025-06-30
Form Type: 6-K
Source: 0001654954-25-007500
Chunk: 2

Company: Argo Blockchain Plc
Filing Date: 2025-06-30
Form: 6-K
Chunk 2
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 and entitled only to a compromise Restructuring Plan payment in a nominal amount based on their pro rata holdings of shares; and

5. on the Effective Date of the Restructuring Plan, Growler will provide additional cash funding to Argo (the "Exit Capital") in exchange for further new Argo equity to ensure that, among other things, all payments required under the Restructuring Plan are made; the Company is sufficiently capitalised for a company of its type, industry and size to move forwards; the Company has funding for go-forward working capital needs.

The Restructuring Plan will likely result in the Company's admission to the Main Market being cancelled. It is Argo's intention to maintain the Company's Nasdaq listing.

#### The Loan
The Loan will be a secured multi-term term loan facility in an amount up to $7,500,000, with amounts available to be drawn down against an approved budget. The Loan will be interest bearing at SOFR plus 6% per annum (with a minimum interest rate of 10% per annum), with a 1.5% commitment fee and a 1.5% exit fee. The Loan will be secured by an "all assets" fixed and floating charge in favour of Growler, which shall include, without limitation, the equity interests in the subsidiaries of the Company. At Growler's discretion, one or more of the subsidiaries of the Company are required to grant to Growler a first ranking lien over their assets and property in support of the Loan. The purpose of the Loan is to fund Argo's operations until the Effective Date of the Restructuring Plan (as explained below) and to meet professional fees and other costs necessarily incurred to implement the Restructuring Plan. Growler may, at its election, convert the Loan into equity upon sanction and implementation of the Restructuring Plan.

#### Company Subsidiaries and Operating Expenses
All of Argo's subsidiaries' respective assets and properties including, without limitation, all mining machines, furniture, fixtures, and equipment wherever located including those located at properties owned by the subsidiaries, including, without limitation, the Baie-Comeau facility, or that are otherwise located at a hosting site in the United States shall remain wholly owned, directly or indirectly, by the Company. All operating expenses and lender or vendor claims of the subsidiaries shall be paid in the ordinary course during the Restructuring Process out of the proceeds of the Loan and the Exit Capital, as the case may be, with all such