Bit Digital Dips Today: TBT Closes $80 Million Private Placement

The price of Bit Digital stock in the pre-market increased by 3.90% and is worth $11.46. Over the past few days, stock prices have risen. On October 4, the stock price was 7.65. The next day it jumped to $10.34. On October 6, the stock was trading at a price of $12.22. Yesterday, the stock price fell by 1.69% and was worth $11.03. Bit Digital, today announced the closure of a previously announced private placement with institutional investors for the sale of 13,490,728 ordinary shares.

The company also issued unregistered purchase orders to investors for a total of 10,118,046 ordinary shares. Currently, the purchase price of one ordinary share and one order for the purchase of three-quarters of an ordinary share is $5.93. The warrants have a strike price of $7.91 for the entire ordinary share, are subject to immediate execution, and have a validity period of three and a half years after the effective date of the resale registration application, in which ordinary shares and shares with warrants are registered. The gross proceeds from the private placement amounted to about $80 million before deducting the fees of the placement agent, as well as other possible placement costs.