BTB - Bit Brother plummets on pricing of $7.1M registered direct offering
- Bit Brother ( NASDAQ: BTB ) to raise $7.1M in a registered direct offering .
- The company has entered into a securities purchase agreement to sell its ordinary shares and warrants in a registered direct offering.
- Under the agreement, the company has agreed to sell 1,569,444 ordinary shares and warrants to purchase 2,354,166 ordinary shares.
- The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $4.50 and will expire five years from the date of issuance.
- The purchase price for one ordinary share and one corresponding warrant will be $4.50.
- The offering is expected to close on or about January 20, 2023.
- Shares are trading down 62% .
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Bit Brother plummets on pricing of $7.1M registered direct offering