Bit Digital to sell 22M ordinary shares at $3.06 in registered direct offering

Bit Digital (BTBT) announced that it has entered into a placement agency agreement with B. Riley Securities for the purchase and sale of 22M ordinary shares at an offering price of $3.06 per share, pursuant to a registered direct offering to certain institutional investors, expected to result in gross proceeds to the company of approximately $67.3M, before deducting placement agent fees and offering expenses. The offering is expected to close on or about July 15, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the proposed offering to purchase Ethereum. B. Riley Securities is acting as the exclusive Placement Agent for the offering.