Bit Digital Announces Proposed Offering of $100 Million Convertible Notes
Bit Digital (NASDAQ:BTBT) has announced a proposed registered underwritten public offering of $100 million in convertible senior notes due 2030. The company is also granting underwriters a 30-day option to purchase up to an additional $15 million in notes to cover over-allotments.
The notes will be senior, unsecured obligations maturing on October 1, 2030, with holders having the option to convert prior to maturity. Upon conversion, Bit Digital may pay in cash, ordinary shares, or a combination thereof. The net proceeds will primarily be used to purchase Ethereum and for general corporate purposes.
The offering is being managed by Barclays, Cantor, and B. Riley Securities as joint lead book-running managers, and will be conducted through an effective shelf registration statement on Form S-3.
Bit Digital ( NASDAQ:BTBT ) ha annunciato una proposta di'offerta pubblica registrata, sottoscritta e underwritten di $100 milioni in notes senior convertibili con scadenza nel 2030. L'azienda concede inoltre agli underwriter un'opzione di 30 giorni per acquistare fino a ulteriori $15 milioni di obbligazioni per coprire eventuali sovrapprezzi (over-allotments).
Le note saranno obbligazioni senior non garantite che scadono il 1 ottobre 2030, e i detentori avranno l'opzione di convertirle prima della scadenza. In caso di conversione, Bit Digital potrà pagare in contanti, in azioni ordinarie o in una combinazione di entrambe. Il prodotto netto sarà principalmente utilizzato per acquistare Ethereum e per scopi aziendali generali.
L'offerta è gestita da Barclays, Cantor e B. Riley Securities come joint lead book-running managers, e sarà effettuata tramite una registrazione efficace su Form S-3.
Bit Digital (NASDAQ:BTBT) ha anunciado una oferta pública registrada, suscrita y en su caso colocación bajo escritura de $100 millones en notas senior convertibles con vencimiento en 2030. La empresa también concede a los suscriptores una opción de 30 días para comprar hasta un adicional de $15 millones en notas para cubrir posibles sobreasignaciones.
Las notas serán obligaciones senior no aseguradas con vencimiento el 1 de octubre de 2030, y los tenedores tendrán la opción de convertir antes del vencimiento. Al convertir, Bit Digital podrá pagar en efectivo, acciones ordinarias o una combinación de ambas. Los fondos netos se utilizarán principalmente para comprar Ethereum y para fines corporativos generales.
La oferta está siendo gestionada por Barclays, Cantor y B. Riley Securities como operadores de libro principal conjuntos, y se llevará a cabo mediante una declaración de registro efectiva en Formulario S-3.
Bit Digital (NASDAQ:BTBT)는 2030년 만기인 전환가능 선순위 채권으로 $100백만의 공모를 제안했다고 발표했습니다. 또한 회사는 공모주 청약에 따른 과다배정(오버로팅)을 커버하기 위해 30일 기간 동안 추가로 $15백만의 채권을 매입할 수 있는 옵션을 주간사들에게 부여합니다.
채권은 2030년 10월 1일에 만기되는 선순위 무담보 채무이며, 보유자는 만기 전에 전환할 option이 있습니다. 전환 시 Bit Digital은 현금, 보통주 또는 그 조합으로 지급할 수 있습니다. 순수익은 주로 이더리움 구매와 일반적 기업 용도로 사용될 것입니다.
이 공모는 Barclays, Cantor, B. Riley Securities를 공동 주요 북런닝 관리자로 하여 관리되며, Form S-3의 유효한 선반 등록을 통해 진행될 예정입니다.
Bit Digital (NASDAQ:BTBT) a annoncé une offre publique enregistrée souscrite et publique proposée de 100 millions de dollars en obligations seniors convertibles arrivant à échéance en 2030. La société accorde également aux souscripteurs une option de 30 jours pour acheter jusqu'à 15 millions de dollars supplémentaires d'obligations afin de couvrir les surallocations.
Les obligations seront des créances seniors non garanties arrivant à échéance le 1er octobre 2030, et les détenteurs auront la possibilité de les convertir avant l'échéance. Lors de la conversion, Bit Digital pourra payer en espèces, en actions ordinaires ou en une combinaison des deux. Le produit net sera principalement utilisé pour acheter de l'Ethereum et à des fins générales d'entreprise.
Cette offre est gérée par Barclays, Cantor et B. Riley Securities en tant que co-responsables du livre et sera réalisée par le biais d'une déclaration d'enregistrement efficace sur le formulaire S-3.
Bit Digital (NASDAQ:BTBT) hat eine vorgeschlagene öffentliche Angebot registrierten Underwritten angekündigt von 100 Millionen USD in wandelbaren Senior Notes mit Fälligkeit 2030. Das Unternehmen gewährt Underwritern außerdem eine 30-tägige Option zum Kauf zusätzlicher 15 Millionen USD an Anleihen, um Über-Allotments abzudecken.
Die Anleihen werden vorrangige, unbesicherte Verbindlichkeiten mit Fälligkeit am 1. Oktober 2030 sein, bei denen die Inhaber vor Fälligkeit ein Umtauschrecht haben. Bei Umtausch kann Bit Digital bar, in Stammaktien oder in einer Kombination davon zahlen. Die Nettoeinnahmen werden hauptsächlich verwendet für den Kauf von Ethereum und für allgemeine Unternehmenszwecke.
Das Angebot wird von Barclays, Cantor und B. Riley Securities als gemeinsame führende Book-Running-Manager durchgeführt und wird über eine wirksame Shelf-Registrierungserklärung auf Formular S-3 abgewickelt.
Bit Digital (NASDAQ:BTBT) أعلنت عن عرض عام مقيد ومسجل للاكتتاب العام بقيمة 100 مليون دولار في سندات senior قابلة للتحويل تنتهي في 2030. كما تتيح الشركة للمكتتبين خيار شراء حتى $15 مليون إضافية من السندات لتغطية عمليات الطرح الزائد.
ستكون السندات من الالتزامات الرئيسية غير المضمونة وتستحق في 1 أكتوبر 2030، وسيكون لدى حامليها خيار التحويل قبل الاستحقاق. عند التحويل، قد تدفع Bit Digital نقداً، أسهماً عادية، أو مزيجاً من الاثنين. ستستخدم العوائد الصافية بشكل رئيسي لشراء Ethereum وللغرض العام للشركة.
تدار العملية من قبل Barclays، Cantor، و B. Riley Securities كمديرين مشاركين رئيسيين للكتاب، وسيتم تنفيذها من خلال بيان تسجيل فعّال على نموذج S-3.
Bit Digital (NASDAQ:BTBT) 宣布拟议注册公开发行，发行价格为1亿美元的可转债，到期日为2030年。 公司还授权承销商在30天内再购买最多$15 million的债券，以覆盖剩余配售。
这些债券将是高级、无抵押的债务，到期日为2030年10月1日，持有人在到期前有转换的选择权。转换时，Bit Digital 可以以现金、普通股，或两者的组合支付。净收益将主要用于购买以太坊及一般企业用途。
该发行由Barclays、Cantor 和 B. Riley Securities共同主承销商管理，并将通过Form S-3的有效货架注册声明进行。
- Potential to raise up to $115 million in capital through the offering
- Strategic investment in Ethereum expansion
- Flexible conversion terms allowing for cash, shares, or combination payment
- Additional debt obligation with 5-year maturity
- Potential dilution for existing shareholders upon conversion
- Increased exposure to volatile cryptocurrency markets through Ethereum investment
Insights
Bit Digital plans to raise $100M through convertible notes to primarily purchase Ethereum, expanding its digital asset investments.
Bit Digital is launching a $100 million registered offering of convertible senior notes due 2030, with an additional $15 million option for underwriters. These notes will be senior, unsecured obligations maturing on October 1, 2030, unless converted, redeemed, or repurchased earlier. The conversion mechanism gives noteholders the flexibility to convert their holdings into cash, ordinary shares, or a combination at Bit Digital's discretion.
What makes this particularly significant is that the company plans to use the proceeds primarily to purchase Ethereum, representing a substantial institutional commitment to this digital asset. This strategic allocation indicates Bit Digital is doubling down on its cryptocurrency investment thesis, particularly focusing on Ethereum rather than solely Bitcoin. This diversification could provide exposure to Ethereum's smart contract capabilities and its ecosystem, potentially offering different growth dynamics compared to Bitcoin.
The involvement of major underwriters including Barclays, Cantor, and B. Riley Securities lends credibility to this offering. These financial institutions are providing important distribution channels and implicit validation of Bit Digital's business model by facilitating access to significant capital through public markets.
This capital raise follows Bit Digital's effective shelf registration on Form S-3 from June 2025, demonstrating the company's forward planning in maintaining financing flexibility. However, investors should note the debt structure will impact the company's balance sheet and potentially create conversion-related dilution in the future, depending on Ethereum's performance and the conversion terms that will be determined at pricing.
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
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.
Barclays, Cantor and B. Riley Securities are acting as joint lead book-running managers for the Offering.
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.
Copies of the preliminary prospectus supplement and the accompanying prospectus related to the Offering may also be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The Offering will be made only by means of the prospectus supplement and the accompanying prospectus. This press release contains information about the pending Offering, and there can be no assurance that the Offering will be completed.
About Bit Digital
Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital's platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield.
Forward-Looking Statements
This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies, including statements about Bit Digital, Inc.'s ability to consummate the pending offering and the terms of such offering. All statements, other than statements of historical fact, included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "intends," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report) and any subsequently filed quarterly reports on Form 10-Q and any Current Reports on Form 8-K. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Contact:
ir@bit-digital.com
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SOURCE Bit Digital, Inc.
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