Bit Digital Proposes Public Offering Of $100 Mln Of Convertible Senior Notes Due 2030

(RTTNews) - Bit Digital Inc. (BTBT) announced a proposed registered underwritten public offering of $100 million aggregate principal amount of its convertible senior notes due 2030.

The company also intends to grant the underwriters in the Offering a 30-day option to purchase up to an additional $15 million aggregate principal amount of Notes on the same terms and conditions, solely to cover over-allotments.

The Notes will be senior, unsecured obligations of the company. The Notes will mature on October 1, 2030, unless earlier converted, redeemed or repurchased.

The company will primarily use the net proceeds from the Offering to purchase Ethereum, and may also allocate funds toward general corporate purposes such as investments, acquisitions, and other digital asset-related business opportunities.

Barclays, Cantor and B. Riley Securities are acting as joint lead book-running managers for the Offering.