Exhibit 10.10
EXHIBIT B
LOAN TERM SHEET
The following loan confirmation dated September 9th, 2021 incorporates all of the terms of the Master Loan Agreement entered into by Galaxy Digital, LLC (“Galaxy”) and Argo Innovation Labs Inc. (“Borrower”) on September 9th, 2021 and the following specific terms:
Borrower: | ARGO INNOVATION LABS INC. |
Lender: | GALAXY DIGITAL, LLC |
Loan ID: | ARGO102180 |
Loan Amount | $45,000,000 |
Borrower APR | 4.5% |
Interest Charge | $281,250 |
Principal + Interest Due | $45,281,250 |
Loan Date | 9/9/2021 |
Maturity Date | 10/29/2021 |
Loan Days | 50 |
Custodian | Fireblocks |
Trading Counterparty | Galaxy |
Total Collateral Amount | 1504 BTC |
Trade Quantity | 1504 BTC |
Initial Spot Price | $46,200 |
Put Strike / Price Floor | $30,000 |
Price Floor | 64.94% |
Call Strike | $60,850 |
Price Ceiling | 131.71% |
Total Collateral Value | $69,484,800 |
Loan to Value (LTV) | 64.76% |
Argo Innovation Labs Inc | Galaxy Digital LLC | |||
By: | /s/ Peter Wall | By: | /s/ Joe McGrady | |
Name: | Peter Wall | Name: | Joe McGrady | |
Date: | 9/9/2021 | Date: | 9/9/2021 |