Bit Digital, Inc. Announces Full Exercise of Underwriters' Option to Purchase Additional Ordinary Shares
Bit Digital (NASDAQ: BTBT) announced that underwriters have fully exercised their option to purchase an additional 11.25 million ordinary shares, generating approximately $21.4 million in additional net proceeds. Combined with the initial offering, the company raised total net proceeds of approximately $162.9 million through the issuance of 86.25 million ordinary shares.
The underwriters' option exercise closed on July 1, 2025. B. Riley Securities served as the sole bookrunning manager, while Clear Street, Craig-Hallum, and Northland Capital Markets acted as co-managers. The company plans to use the proceeds to purchase Ethereum. The offering was made pursuant to a shelf registration statement on Form S-3 that was declared effective on June 20, 2025.
Bit Digital (NASDAQ: BTBT) ha annunciato che i sottoscrittori hanno esercitato completamente l'opzione di acquisto di ulteriori 11,25 milioni di azioni ordinarie, generando circa 21,4 milioni di dollari di proventi netti aggiuntivi. Insieme all'offerta iniziale, la societ脿 ha raccolto un totale di circa 162,9 milioni di dollari di proventi netti attraverso l'emissione di 86,25 milioni di azioni ordinarie.
L'esercizio dell'opzione da parte dei sottoscrittori si 猫 concluso il 1 luglio 2025. B. Riley Securities ha svolto il ruolo di unico bookrunner manager, mentre Clear Street, Craig-Hallum e Northland Capital Markets hanno agito come co-manager. La societ脿 prevede di utilizzare i proventi per acquistare Ethereum. L'offerta 猫 stata effettuata in base a una dichiarazione di registrazione a scaffale sul modulo S-3, dichiarata efficace il 20 giugno 2025.
Bit Digital (NASDAQ: BTBT) anunci贸 que los suscriptores ejercieron completamente su opci贸n para comprar 11,25 millones de acciones ordinarias adicionales, generando aproximadamente 21,4 millones de d贸lares en ingresos netos adicionales. Sumado a la oferta inicial, la compa帽铆a recaud贸 un total de aproximadamente 162,9 millones de d贸lares en ingresos netos mediante la emisi贸n de 86,25 millones de acciones ordinarias.
El ejercicio de la opci贸n por parte de los suscriptores se cerr贸 el 1 de julio de 2025. B. Riley Securities actu贸 como 煤nico gestor principal, mientras que Clear Street, Craig-Hallum y Northland Capital Markets fueron co-gestores. La compa帽铆a planea usar los ingresos para comprar Ethereum. La oferta se realiz贸 conforme a una declaraci贸n de registro en estanter铆a bajo el formulario S-3 que fue declarada efectiva el 20 de junio de 2025.
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Bit Digital (NASDAQ: BTBT) a annonc茅 que les souscripteurs ont pleinement exerc茅 leur option d'achat de 11,25 millions d'actions ordinaires suppl茅mentaires, g茅n茅rant environ 21,4 millions de dollars de produits nets additionnels. Combin茅 脿 l'offre initiale, la soci茅t茅 a lev茅 un total d'environ 162,9 millions de dollars de produits nets gr芒ce 脿 l'茅mission de 86,25 millions d'actions ordinaires.
L'exercice de l'option par les souscripteurs s'est cl么tur茅 le 1er juillet 2025. B. Riley Securities a agi en tant que gestionnaire principal unique, tandis que Clear Street, Craig-Hallum et Northland Capital Markets ont 茅t茅 co-gestionnaires. La soci茅t茅 pr茅voit d'utiliser les fonds pour acheter de l'Ethereum. L'offre a 茅t茅 r茅alis茅e conform茅ment 脿 une d茅claration d'enregistrement sur 茅tag猫re sur le formulaire S-3, d茅clar茅e effective le 20 juin 2025.
Bit Digital (NASDAQ: BTBT) gab bekannt, dass die Zeichner ihre Option zum Kauf von zus盲tzlichen 11,25 Millionen Stammaktien vollst盲ndig ausge眉bt haben, wodurch etwa 21,4 Millionen US-Dollar an zus盲tzlichen Nettoerl枚sen erzielt wurden. Zusammen mit dem urspr眉nglichen Angebot hat das Unternehmen insgesamt rund 162,9 Millionen US-Dollar an Nettoerl枚sen durch die Ausgabe von 86,25 Millionen Stammaktien eingenommen.
Die Aus眉bung der Option durch die Zeichner wurde am 1. Juli 2025 abgeschlossen. B. Riley Securities fungierte als alleiniger Bookrunning-Manager, w盲hrend Clear Street, Craig-Hallum und Northland Capital Markets als Co-Manager t盲tig waren. Das Unternehmen plant, die Erl枚se f眉r den Kauf von Ethereum zu verwenden. Das Angebot erfolgte im Rahmen einer Shelf-Registrierungserkl盲rung auf Formular S-3, die am 20. Juni 2025 wirksam wurde.
- Successfully raised additional $21.4 million through full exercise of underwriters' option
- Total net proceeds of $162.9 million strengthens company's capital position
- Clear intended use of proceeds for Ethereum investment shows strategic direction
- Significant shareholder dilution from issuance of 86.25 million new ordinary shares
- Concentration risk from allocating proceeds solely to Ethereum investment
Insights
Bit Digital's $162.9M raise with fully-exercised underwriter option strengthens treasury for major Ethereum investment.
Bit Digital has successfully completed a significant capital raise, with underwriters fully exercising their option to purchase an additional 11.25 million shares. This overallotment exercise generated an extra
The strong demand signaled by the full exercise of this option suggests institutional confidence in Bit Digital's strategic direction. With a total of 86.25 million ordinary shares issued in this offering, the company has substantially strengthened its balance sheet. Importantly, Bit Digital has explicitly stated its intention to use these proceeds to purchase Ethereum, representing a significant allocation to the second-largest cryptocurrency by market capitalization.
This capital deployment strategy positions Bit Digital to potentially benefit from Ethereum's ecosystem growth, particularly as the network continues its evolution following the transition to proof-of-stake. The company's decision to allocate proceeds specifically to Ethereum rather than Bitcoin or mining equipment represents a strategic bet on Ethereum's potential upside and utility in the digital asset ecosystem.
The offering was managed by B. Riley Securities as sole bookrunner, with Clear Street, Craig-Hallum, and Northland Capital Markets serving as co-managers, indicating broad institutional support for the placement. The successful completion of this offering under a shelf registration that became effective just days ago (June 20, 2025) demonstrates efficient execution by the company's management and financial partners.
After giving effect to the full exercise of the underwriters' option to purchase additional ordinary shares, a total of 86,250,000 ordinary shares were issued and sold by the Company in the underwritten public offering. The net proceeds to the Company from the underwritten public offering, including the full exercise of the underwriters' option to purchase additional ordinary shares, are approximately
B. Riley Securities acted as the sole bookrunning manager in the offering and Clear Street, Craig-Hallum and Northland Capital Markets acted as co-managers for the offering.
The securities described above were offered by the Company pursuant to a shelf registration statement on Form听S-3, as amended,听including a base prospectus, that was originally filed with the Securities and Exchange Commission (the "SEC"), by the Company on听April 30, 2025听and was declared effective on听June 20, 2025. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available for free on the SEC's website located at听.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Bit Digital
Bit Digital is a publicly traded digital asset platform focused on听Ethereum-native treasury and staking strategies. The Company began accumulating and staking听ETH听in 2022 and now operates one of the largest institutional听Ethereum听staking infrastructures globally. Bit Digital's platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the听Ethereum听ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. For additional information, please contact听[email protected].
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact, included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "intends," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the year ended听December 31, 2024听(Annual Report) and any subsequently filed quarterly reports on Form 10-Q and any Current Reports on Form 8-K. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at听http://www.sec.gov. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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FAQ
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