Bit Digital Announces Proposed Offering of $100 Million Convertible Notes

About this update from Bit Digital, Inc.

[{"type":"text","content":"\n NEW YORK, Sept. 29, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (\"Bit Digital\" or the \"Company\") today announced a proposed registered underwritten public offering (the \"Offering\") by the Company of $100,000,000 aggregate principal amount of its convertible senior notes due 2030 (the \"Notes\"), subject to market and other conditions. The Company also intends to grant the underwriters in the Offering a 30-day option to purchase up to an additional $15,000,000 aggregate principal amount of Notes on the same terms and conditions, solely to cover over-allotments.\n \n \n \n \n \n \n \n The Notes will be senior, unsecured obligations of the Company. The Notes will mature on October 1, 2030, unless earlier converted, redeemed or repurchased. Holders may convert their Notes at their option prior to the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver to such converting holders, as the case may be, cash, ordinary shares, par value $0.01 per share, of the Company (the \"ordinary shares\") or a combination of cash and ordinary shares, at its election. The interest rate, initial conversion rate and certain other terms of the Notes will be determined at the time of pricing of the Notes.\n The net proceeds from the Offering will primarily be used to purchase Ethereum and may be used by the Company for general corporate purposes, including potential investments, acquisitions and other business opportunities relating to digital assets.\n Barclays, Cantor and B. Riley Securities are acting as joint lead book-running managers for the Offering.\n The Offering will be made pursuant to an effective shelf registration statement on Form S-3, as amended, filed with the Securities and Exchange Commission (the \"SEC\"), which was declared effective by the SEC on June 20, 2025. The preliminary prospectus supplement and the accompanying prospectus related to the Offering have been filed with the SEC and will be available on the SEC's website at www.sec.gov. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and other documents the Company has filed with the SEC for more complete information about Bit Digital and the Offering.\n Copies of the preliminary prospectus supplement and the accompanyi...

More updates from Bit Digital, Inc.