FREMONT, CA: BTC Digital Ltd. (NASDAQ: BTCT) (the "Company"), a blockchain technology company, today concluded its previously announced firm commitment to an underwritten public offering. The Company received approximately $20.0 million in gross proceeds before deducting underwriting fees and other projected offering expenses. The offering ended on December 9, 2024.
The offering included 2,500,000 ordinary shares and pre-funded warrants. The public offering price for each Common Share is $8.00, and for each Pre-Funded Warrant, it is $7.999, which corresponds to the public offering price per Ordinary Share minus a $0.001 exercise price per Pre-Funded Warrant. The Pre-Funded Warrants are instantly exercisable and can be exercised at any moment until fully exercised. The number of Ordinary Shares offered will be reduced by one for every Pre-Funded Warrant sold during the offering.
In addition, the Company granted Aegis Capital Corp. a 45-day option to buy up to 15.0 percent of the number of Ordinary Shares presented in the offering to offset any over-allotments.
Aegis Capital Corp. was the only book-runner for the offering. VCL Law LLP served as the Company's U.S. counsel, and Kaufman & Canoles, P.C. served as Aegis Capital Corp.'s U.S. counsel.
