Understanding Riot Blockchain's Form D Filing

Riot Blockchain Inc RIOT, a small-cap biotech stock that was once called Bioptix and renamed itself to better reflect its new blockchain business model, released a Form D regulatory filing on Wednesday. 

What You Need To Know

A Form D is a notice to the investment community that is used when a company intends to offer and sell securities. In this case, Riot Blockchain's form includes information about the company and the offering, including the names and addresses of the company's executives, the size of the offering and the date of the first sale.

Taking a look at the company's Form D shows that:

• The company declined to disclose a revenue range.
• The company has a federal exemption under Rule 506(b), which means it can raise an unlimited amount of money and can sell securities to an unlimited number of accredited investors.
• The offering is not intended to last more than one year.
• The company seeks to offer stocks, options, warrants and other rights to acquire another security, but no debt.
• The company lists the total offering amount as $37,037,528.
• Perhaps most important, the company indicates it has sold $37,037,528 worth of offerings with zero left to sell.

Price Action

Shares of Riot Blockchain were trading lower by more than 6 percent during Thursday's pre-market trading session.

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