Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 256

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 256
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 subscription rights (the “Registration Statement”),
which included a sales agreement prospectus covering the offering, issuance and sale by the Company of up to a maximum aggregate offering
price of $500 million of the Company’s ordinary shares that may be issued and sold under an At The Market Offering Agreement we
entered into with H.C. Wainwright & Co., LLC, as sales agent (as amended from time to time, the “Sales Agreement”). 

In
the second quarter of 2025, the Company sold an aggregate of 25,504,699 ordinary shares in connection with the at-the-market offering
pursuant to the Registration Statement. The Company received net proceeds of $48.3 million, net of offering costs.

In
June 2025, the Company completed an underwritten public offering of its ordinary shares registered under the Registration Statement.
In accordance with the terms of the underwriting agreement entered into with B. Riley Securities, Inc., as representative of the several
underwriters, the Company sold 75,000,000 ordinary shares at a price to the underwriters of $1.90 per share. The Company received net
proceeds of approximately $141.6 million, after deducting the underwriting discount and offering expenses. On July 1, 2025, the underwriters
related to this public offering fully exercised their option to purchase an additional 11,250,000 ordinary shares, resulting in additional
net proceeds to the Company of $21.3 million, after deducting the underwriting discount and offering expenses.

On
July 15, 2025, the Company entered into a registered direct offering with B. Riley Securities, Inc. relating to its ordinary shares.
In accordance with the terms of the sales agreement, the Company agreed to issue and sell 22,000,000 ordinary shares having an aggregate
purchase price of $63.6 million, net of offering costs. The registered direct offering closed on July 15, 2025. The Company intends to
use the net proceeds from the registered direct offering to purchase Ethereum.

On
September 29, 2025, the Company entered into an underwriting agreement with certain financial institutions (collectively the “Underwriters”),
pursuant to which the Company agreed to sell $135 million aggregate principal amount of its 4.00% Convertible Notes due 2030. Subsequently,
the greenshoe option was exercised under which additional $15 million was sold to the Underwriters, making