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Bit Brother Limited ("Bit Brother, " "We" or the "Company") (NASDAQ:BTB), announced today that it has entered into a securities purchase agreement with certain accredited investors to sell $50 million of its Class A Ordinary Shares in a registered direct offering.
Under the terms of the securities purchase agreement, Bit Brother has agreed to sell 2,000,000,000 Class A Ordinary Shares. The purchase price for one Class A Ordinary Share will be $0.25. The gross proceeds to Bit Brother are estimated to be $50 million before deducting the estimated offering expenses.
The registered direct offering is expected to close on or about July 18, 2023, subject to the satisfaction of customary closing conditions.
Posted In: BTB
