SINGAPORE, Dec. 6, 2024
/PRNewswire/ -- BTC Digital Ltd. (NASDAQ: BTCT) (the "Company"), a
blockchain technology company, today announced the pricing of a
firm commitment underwritten public offering with gross proceeds to
the Company expected to be approximately $20.0 million, before deducting underwriting fees
and other estimated offering expenses payable by the Company.
The offering consists of 2,500,000 Ordinary Shares and
Pre-Funded Warrants. The public offering price per Common Share is
$8.00 (or $7.999 for each Pre-Funded Warrant, which is
equal to the public offering price per Ordinary Share to be sold in
the offering minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded
Warrants will be immediately exercisable and may be exercised at
any time until exercised in full. For each Pre-Funded Warrant sold
in the offering, the number of Ordinary Shares in the offering will
be decreased on a one-for-one basis.
In addition, the Company has granted Aegis Capital Corp.
("Aegis") a 45-day option to purchase additional Ordinary Shares of
up to 15.0% of the number of Ordinary Shares sold in the offering
solely to cover over-allotments, if any.
Aggregate gross proceeds to the Company are expected to be
approximately $20.0 million. The
transaction is expected to close on or about December 9, 2024, subject to the satisfaction of
customary closing conditions. The Company expects to use the net
proceeds from the offering, together with its existing cash, for
general corporate purposes and working capital.
Aegis Capital Corp. is acting as the sole book-running
manager for the offering. VCL Law LLP is acting as U.S.
counsel to the Company. Kaufman & Canoles, P.C. is act as U.S.
counsel to Aegis Capital Corp.
The offering is being made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-283367) previously
filed with the U.S. Securities and Exchange Commission (SEC) and
declared effective by the SEC on December 5,
2024. A final prospectus supplement and accompanying
prospectus describing the terms of the proposed offering will be
filed with the SEC and will be available on the SEC's website
located at www.sec.gov. Electronic copies of the final prospectus
supplement and the accompanying prospectus may be obtained, when
available, by contacting Aegis Capital Corp., Attention: Syndicate
Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at
syndicate@aegiscap.com, or by telephone at +1 (212) 813-1010.
Interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in such prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About BTC Digital Ltd.
BTC Digital Ltd.is a blockchain technology company, with a
long-term strategy to create value across the metaverse, blockchain
and cryptocurrency mining industry. The Company is
committed to developing blockchain related businesses in
North America, including
cryptocurrency mining, mining farm construction,
mining pool and data center operation, and miner accessories
business.
Forward-Looking Statements
The foregoing material may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. Forward-looking statements include all statements that do
not relate solely to historical or current facts, including without
limitation statements regarding the Company's product development
and business prospects, and can be identified by the use of words
such as "may," "will," "expect," "project," "estimate,"
"anticipate," "plan," "believe," "potential," "should," "continue"
or the negative versions of those words or other comparable words.
Forward-looking statements are not guarantees of future actions or
performance. These forward-looking statements are based on
information currently available to the Company and its current
plans or expectations and are subject to a number of risks and
uncertainties that could significantly affect current plans. Should
one or more of these risks or uncertainties materialize, or the
underlying assumptions prove incorrect, actual results may differ
significantly from those anticipated, believed, estimated,
expected, intended, or planned. Although the Company believes that
the expectations reflected in the forward-looking statements are
reasonable, the Company cannot guarantee future results,
performance, or achievements. Except as required by applicable law,
including the security laws of the United
States, the Company does not intend to update any of the
forward-looking statements to conform these statements to actual
results.
For more information, please visit:
https://btct.investorroom.com/
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SOURCE BTC Digital Ltd.
