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Bit Digital Jumps 18% After Closing $80 Mln Private Placement

Shares of Bit Digital, Inc. (BTBT) are gaining over 18% on Tuesday morning. The company announced it closed a previously announced private placement of 13.5 million ordinary shares.

The company also issued to the investors unregistered warrants to purchase up to an aggregate of 10.1 million ordinary shares. The purchase price for one ordinary share and one warrant to purchase three-fourths of an ordinary share is $5.93.

The proceeds from the private placement were approximately $80 million before deducting placement agent fees and other estimated offering expenses.

BTBT is currently trading at $9.03, up $1.44 or 18.97%, on the Nasdaq. The stock has traded between $3.40 and $33.00 in the 52 week period.

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