Bit Digital Inc (NASDAQ:BTBT) said on Wednesday that its high-performance computing subsidiary WhiteFiber Inc has filed for an initial public offering in the US.
WhiteFiber plans to list its ordinary shares on the Nasdaq Capital Market under the ticker symbol "WYFI".
The number of shares to be offered and the price range for the proposed offering have not yet been determined, the company said in a statement.
B. Riley Securities and Needham & Company will serve as joint bookrunners for the offering.
The IPO is subject to market conditions and completion of the U.S. Securities and Exchange Commission's (SEC) review process.
WhiteFiber, which is wholly owned by Bit Digital, focuses on infrastructure for high-performance computing.
The offering will be made only by means of a prospectus, the company said.
Investors welcomed the news, sending shares of Bit Digital more than 10% higher in early trade to $3.63.