BTC Digital Ltd. Closes $20 Million Underwritten Public Offering

BTC Digital Ltd., a blockchain technology company listed on NASDAQ under the ticker symbol BTCT, has successfully closed its recent underwritten public offering, as announced today, December 9, 2024. The firm commitment offering, which concluded on the same day, generated gross proceeds of approximately $20.0 million for the company, before deducting underwriting fees and other associated expenses.

The offering included a total of 2,500,000 Ordinary Shares and Pre-Funded Warrants. Each Common Share was priced at $8.00, with each Pre-Funded Warrant priced at $7.999, which corresponds to the public offering price per Ordinary Share minus an exercise price of $0.001 per Pre-Funded Warrant. The Pre-Funded Warrants are immediately exercisable and can be exercised at any time until completely utilized. For each Pre-Funded Warrant sold in the offering, the number of Ordinary Shares in the offering was reduced on a one-for-one basis.

In addition to the initial offering, BTC Digital Ltd. granted Aegis Capital Corp. a 45-day option to purchase additional Ordinary Shares of up to 15.0% of the total shares sold, exclusively for handling over-allotments, if any.

Notable market participants involved in this offering include Aegis Capital Corp., acting as the sole book-running manager, and legal counsels VCL Law LLP for the company and Kaufman & Canoles, P.C. for Aegis Capital Corp.

BTC Digital Ltd.’s recent offering was conducted under an effective shelf registration statement on Form S-3 (No. 333-283367), which was previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on December 5, 2024. A final prospectus supplement and accompanying prospectus detailing the terms of the offering will be made available through the SEC’s website or via Aegis Capital Corp.

BTC Digital Ltd. is a forward-thinking blockchain technology company with a strategic approach to enhancing value across the metaverse, blockchain, and cryptocurrency mining industry. The company is dedicated to advancing blockchain-related businesses in North America, focusing on cryptocurrency mining, mining farm construction, mining pool and data center operations, and miner accessories.

Investors and stakeholders are reminded that forward-looking statements within this announcement, made in accordance with Safe Harbor provisions, bear inherent uncertainties and risks that could potentially lead to discrepancies between anticipated and actual results. It’s advised not to base investment decisions solely on these forward-looking statements due to the unpredictability of future events and results.

For updates and additional information, interested parties can visit the company’s investor relations website at https://btct.investorroom.com/.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BTC Digital’s 8K filing here.

BTC Digital Company Profile

BTC Digital Ltd. engages in the cryptocurrency/bitcoin mining business. It also engages in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, the People's Republic of China.