BUZZ-BTC Digital slumps after $20 mln public offering

Reuters

2024/12/06

** Shares of cryptocurrency firm BTC Digital plunge 29.7% to $11.01 in early trading

** BTCT sold 2.5 mln shares and pre-funded warrants in public offering at $8/shr for gross proceeds of $20 mln

** Offering priced at 48.9% discount to stock's last close

** BTCT plans on using the proceeds for general corporate purposes and working capital

** Aegis Capital was the sole book-running manager for the offering

** As of last close, BTCT shares had more than tripled YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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