- Bitcoin mining company Bit Digital Inc BTBT selling shareholders proposed to offload 23.6 million shares under a secondary equity offering. Bit Digital will not get any of the offering proceeds.
- The selling shareholders offered 13.5 million shares to institutional investors. The remaining 10.1 million shares were issuable upon exercise of share warrants exercisable at $7.91 per share.
- The offering fetches proceeds worth $148.8 million from 13.5 million shares based on the October 13 closing price of $11.03.
- Price Action: BTBT shares traded higher by 6.07% at $11.35 in the premarket session on the last check Friday.
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