other material
confidence high
sentiment positive
materiality 0.75
Blockchain Digital Infrastructure closes $55M public offering of 33.3M shares at $1.65
BlockchAIn Digital Infrastructure, Inc.
- Gross proceeds of ~$55M; net proceeds ~$51.4M after underwriting discounts and expenses.
- Offering of 33,333,334 shares of common stock at $1.65 per share; underwriter has 45-day option for up to 4,999,999 additional shares.
- Underwriter received warrants to purchase 1,333,333 shares at $1.815 per share, exercisable for 5 years.
- Insiders, officers, directors signed 90-day lock-up agreements. Company also agreed to 90-day issuance restrictions and 180-day variable rate transaction ban.
- Net proceeds intended for working capital, capital expenditures for growth, and general corporate purposes.