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Bit Digital Underwriter Fully Exercises Over-Allotment Option, Raising $162.9 Million for ETH Purchase
Summary: According to reports, Bit Digital (Nasdaq: BTBT) announced today that the underwriters of its recent public offering have fully exercised the over-allotment option, purchasing an additional 11.25 million shares of common stock, bringing in approximately $21.4 million in additional net proceeds for the company. The public offering issued a total of 86.25 million shares of ...
According to reports, Bit Digital (Nasdaq: BTBT) announced today that the underwriters of its recent public offering have fully exercised the over-allotment option, purchasing an additional 11.25 million shares of common stock, bringing in approximately $21.4 million in additional net proceeds for the company. The public offering issued a total of 86.25 million shares of common stock, resulting in a total net proceeds of $162.9 million.
The company stated that the funds raised will be used to purchase Ethereum. As a digital asset platform focusing on Ethereum native treasury and staking strategies, Bit Digital currently operates one of the world's largest institutional Ethereum staking infrastructures.
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Link: Bit Digital Underwriter Fully Exercises Over-Allotment Option, Raising $162.9 Million for ETH Purchase [Copy]
