Bit Digital, Inc (BTBT): debt financing — Bit Digital prices $150M 4% convertible notes due 2030; net proceeds ~$143M for ETH purchases

Bit Digital, Inc

Offering upsized from $100M to $150M; underwriters' over-allotment option exercised in full on Sept 30.
4.00% coupon, maturity Oct 1, 2030; initial conversion rate 240.3846 shares/$1,000 ($4.16/sh, 30% premium).
Net proceeds $143.3M after discounts and expenses; funds to buy Ethereum and for general corporate.
Notes are senior unsecured; holders may convert to cash, shares, or combination at Co.'s election.
Redemption allowed on or after Oct 6, 2028 if stock price >=130% conversion price for 20 of 30 trading days.

item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bit Digital, Inc incurred convertible notes of additional $15 million aggregate principal amount of Notes.

Instrument: convertible notes
Principal: additional $15 million aggregate principal amount of Notes
Event: incurrence

Exact text from the filing

the exercise in full on September 30, 2025 of the underwriters' option to purchase an additional $15 million aggregate principal amount of Notes

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bit Digital, Inc incurred convertible notes of $150 million aggregate principal amount with U.S. Bank Trust Company, National Association at 4.00% per year maturing October 1, 2030.

Instrument: convertible notes
Principal: $150 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.00% per year
Maturity: October 1, 2030
Event: incurrence

Exact text from the filing

Cantor Fitzgerald & Co. and B. Riley Securities, Inc. as representatives of the several underwriters named in Schedule I thereto, in connection with the issuance and sale of $150 million aggregate principal amount of the Company’s 4.00% Convertible Senior Notes due 2030 (the “Notes”), including the exercise in full on September 30, 2025 of the underwriters’

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Bit Digital, Inc filing history →

Source: SEC EDGAR

accession 0001213900-25-095533

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