Bit Digital subsidiary WhiteFiber completes IPO, raises $159.4 million; Bit Digital retains 74.3% stake

Bit Digital, Inc

WhiteFiber, a subsidiary of Bit Digital, completed its IPO of 9.375 million ordinary shares at $17.00 per share, grossing $159.375 million.
Prior to the IPO, Bit Digital contributed its HPC business to WhiteFiber in exchange for 27,043,749 shares, holding 74.3% post-IPO.
Bit Digital and WhiteFiber entered a transition services agreement with estimated monthly fees of $155,000 for up to 24 months.
Underwriters have a 30-day option to purchase up to 1,406,250 additional WhiteFiber shares; if exercised fully, Bit Digital's stake would be ~71.5%.

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