BTC Digital slumps after $20 mln public offering

BTC Digital

06/12/2024 14:37

** Shares of cryptocurrency firm BTC Digital  BTCT.O  plunge
29.7% to $11.01 in early trading
    ** BTCT sold 2.5 mln shares and pre-funded warrants in
public offering at $8/shr for gross proceeds of $20 mln
    ** Offering priced at 48.9% discount to stock's last close  
  
    ** BTCT plans on using the proceeds for general corporate
purposes and working capital     
    ** Aegis Capital was the sole book-running manager for the
offering   
    ** As of last close, BTCT shares had more than tripled YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))