Bit Digital (BTBT) -Thanks slid 8% on the US market openly and dropped to $ 2.92 after the company announced a transmitted $ 135 million convertible note offers.
Bit Digital increased the size of the 4.00% convertible seniorotats offering from $ 100 million. Underwriters have a 30-day opportunity to buy up to an additional $ 15 million. The notes mature on October 1, 2030, unless previously converted, redeemed or repurchased.
The initial conversion price is set at $ 4.16 per Net proceeds are expected to be around $ 128.9 million, or $ 143.3 million if insurance companies fully exercise their opportunity.
Bit Digital intends to use the funds primarily to buy ether . Currently, the company has 121,252 ETH at an average acquisition cost of $ 2,635.
A similar sale happened last week with cipher mining (digifr), whose shares fell 19% in two days after issuing convertible notes.
