Nasdaq-listed company Bit Digital plans to raise $67.3 million to purchase Ethereum

ChainCatcher news, according to The Block, Nasdaq-listed company Bit Digital announced on July 14 that it plans to raise approximately $67.3 million by directly issuing 22 million common shares to institutional investors, with all proceeds to be used for purchasing Ethereum (ETH). The shares are priced at $3.06 each, with B. Riley Securities acting as the placement agent, and the transaction is expected to be completed on July 15.

The week prior, the company had converted all of its Bitcoin holdings into Ethereum and currently holds approximately 100,603 ETH (worth about $301 million).