Bit Digital (BTBT) tumbled 8% in early trading to $2.92 following the announcement of an expanded $135 million convertible note offering. The 4% senior notes, originally $100 million, include a $15 million 30-day option for underwriters. With a $4.16 conversion price—30% above the Sept. 29 close—the company expects net proceeds of about $128.9 million, which will be used mainly to buy ether, adding to its 121,252 ETH portfolio.
Bit Digital Stock Declines 8% on Boosted $135M Convertible Note
