Bit Digital Prices Upsized Public Offering Of $135 Mln Of 4.00% Convertible Senior Notes Due 2030

(RTTNews) - Bit Digital Inc. (BTBT) announced the pricing of its upsized underwritten public offering of $135 million aggregate principal amount of 4.00% convertible senior notes due 2030. The sale of the Notes is expected to close on October 2, 2025.

The company also granted 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 and will accrue interest at a rate of 4.00% per year, payable semiannually in arrears. The Notes will mature on October 1, 2030, unless earlier converted, redeemed or repurchased.

Bit Digital estimates that the net proceeds from the Offering will be approximately $128.9 million (or approximately $143.3 million if the underwriters exercise their over-allotment option in full), after deducting the underwriters' discounts and commissions and estimated offering expenses.

The company will use the net proceeds from the Offering primarily to purchase Ethereum. Remaining funds may be allocated to general corporate purposes, including 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.