Digital asset platform Bit Digital, Inc. (BTBT) announced Thursday the pricing of an underwritten public offering of 75 million ordinary shares at a public offering price of $2.00 per share.
The aggregate gross proceeds to the Company from the offering, before deducting the underwriting discount and other offering expenses payable by the Company, will be $150.0 million.
The Company intends to use the net proceeds from this offering to purchase Ethereum.
In addition, the Company has granted the underwriters a 30-day option to purchase an additional 11.25 million ordinary shares. The offering is expected to close on or about June 27, 2025, subject to satisfaction of customary closing conditions.
B. Riley Securities is acting as the sole bookrunning manager in the offering and Clear Street, Craig-Hallum and Northland Capital Markets are acting as co-managers for the offering.
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