- Bit Brother Ltd BTB has entered into a securities purchase agreement with certain accredited investors to sell $22.5 million of shares and warrants in a direct offering.
- Bit Brother will sell 15 million ordinary shares, and warrants for the purchase of 15 million shares. The warrants will expire five years from the date of issuance.
- The purchase price for one ordinary share and one corresponding warrant will be $1.50.
- The price represents a discount of 25% to Bit Brother’s last closing price of $2.00 on July 15, 2021.
- The direct offering will close on or about July 20, 2021.
- Price action: BTB shares are trading lower by 46.5% at $1.07 on the last check Friday.
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