Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 68

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 68
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As
of December 31, 2024, there were 179,255,191 ordinary shares issued and 179,125,205 ordinary shares outstanding.

In
May 2022, the Company entered into an At-the-Market Offering Agreement with H.C. Wainwright & Co., LLC relating to the Company’s
ordinary shares. In accordance with the terms of the sales agreement, the Company may offer and sell ordinary shares having an aggregate
offering price of up to $500,000,000. During the nine months ended September 30, 2025, the Company sold 28,654,586 ordinary shares for
an aggregate purchase price of $58.5 million net of offering costs pursuant to this at-the-market offering.

On
April 29, 2025, the Company filed a registration statement on Form S-3 (No. 333-286841) to register up to $500 million of its ordinary
shares, preference shares, debt securities, warrants, units and subscription rights (the “Registration Statement”). 

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 expense. 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.

In
July, 2025, the Company entered into a placement agency agreement (the “Placement Agent Agreement”) with B. Riley Securities,
Inc. (the “Placement Agent”), pursuant to which the Placement Agent agreed to serve as the sole placement agent for the Company
in connection with a registered direct offering (the “Registered Direct Offering”) of an aggregate of 22,000,000 ordinary
shares of the Company at an offering price of $3.06 per share. The gross proceeds to the Company from the Registered Direct Offering
were approximately $67.3 million before deducting placement agent fees and other