BTC Digital Ltd. (NASDAQ: BTCT), a leading blockchain technology company, has announced the pricing of its underwritten public offering, expected to generate approximately $20 million in gross proceeds. This strategic move aims to bolster the company's financial flexibility and support its long-term growth initiatives in the blockchain and cryptocurrency sectors.
Offering Details
- Total Shares Offered: 2,500,000 Ordinary Shares and Pre-Funded Warrants
Public Offering Price:
- Ordinary Shares: $8.00 per share
- Pre-Funded Warrants: $7.999 each (equivalent to the Ordinary Share price minus a $0.001 exercise price)
- Immediate Exercisability: Pre-Funded Warrants can be exercised at any time until fully utilized.
For every Pre-Funded Warrant sold, the number of Ordinary Shares in the offering will decrease on a one-to-one basis.
Over-Allotment Option
Aegis Capital Corp., the sole book-running manager, has been granted a 45-day option to purchase up to 15% additional Ordinary Shares to cover potential over-allotments.
Expected Use of Proceeds
The net proceeds, combined with existing cash reserves, will be allocated to:
- General corporate purposes
- Working capital
- Strategic investments in blockchain infrastructure and cryptocurrency mining operations
The offering is anticipated to close by December 9, 2024, pending standard closing conditions.
Regulatory Compliance
The offering is made under an effective SEC-registered shelf statement (Form S-3 No. 333-283367). Investors can access the final prospectus via the SEC website or by contacting Aegis Capital Corp.
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About BTC Digital Ltd.
BTC Digital Ltd. is a pioneer in blockchain technology, focusing on:
- Cryptocurrency mining
- Mining farm construction
- Data center operations
- Miner accessories
The company is committed to driving innovation in North America's blockchain ecosystem.
Forward-Looking Statements
This release contains forward-looking statements subject to risks and uncertainties. Actual results may differ due to market conditions, regulatory changes, or operational challenges. The company disclaims any obligation to update these statements.
For more details, visit the investor relations page.
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FAQ Section
Q: What is the total value of BTC Digital’s public offering?
A: The offering aims to raise approximately $20 million before expenses.
Q: How can investors participate in this offering?
A: Shares are available through Aegis Capital Corp. Contact their Syndicate Department or review the SEC-filed prospectus.
Q: What are Pre-Funded Warrants?
A: These warrants allow immediate exercise at a nominal price, converting to Ordinary Shares on a one-to-one basis.
Q: When will the offering close?
A: Expected by December 9, 2024, subject to regulatory approvals.
Q: Which sectors will BTC Digital prioritize with the funds?
A: Focus areas include mining operations, blockchain infrastructure, and working capital.
Q: Where can I find official documents?
A: All filings are available on the SEC website.
Disclaimer: This content is for informational purposes only and does not constitute financial advice.
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