BTC Digital announces $6M registered direct offering

BTC Digital (BTCT) announced that it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of approximately $6M of the company’s Ordinary Shares at a price of $3.00 per Ordinary Share. The offering consisted of the sale of 2M Ordinary Shares. Aggregate gross proceeds to the company are expected to be approximately $6M before deducting fees to the placement agent and other expenses payable by the company. The transaction is expected to close on or about July 16, subject to the satisfaction of customary closing conditions. The company expects to use the net proceeds from the offering, together with its existing cash, for the purchase of Ethereum. Aegis Capital is acting as exclusive placement agent for the offering.