Bit Digital (BTBT) dropped 8% to $2.92 as the company increased its 4% convertible senior note offering from $100 million to $135 million. Underwriters may buy an extra $15 million over 30 days. The notes, maturing in 2030, carry a $4.16 conversion price, a 30% premium over the Sept. 29 close. The proceeds, estimated at $128.9 million, will go toward buying ether, adding to the miner’s 121,252 ETH holdings.
Bit Digital Slides 8% After Announcing Larger-Than-Expected $135M Convertible Note
