Bit Digital Inc (NASDAQ:BTBT) announced that underwriters have fully exercised their option to buy an additional 11.25 million shares, generating about $21.4 million in net proceeds.
In total, 86.25 million shares were sold in the offering, raising approximately $162.9 million net after expenses. The company plans to use the proceeds to purchase Ethereum.
B. Riley Securities led the offering, with Clear Street, Craig-Hallum, and Northland Capital Markets as co-managers.