{"id":50299,"date":"2025-09-30T15:02:08","date_gmt":"2025-09-30T15:02:08","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=50299"},"modified":"2025-09-30T15:02:08","modified_gmt":"2025-09-30T15:02:08","slug":"bit-digital-shares-slide-8-on-135m-upsized-convertible-note","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=50299","title":{"rendered":"Bit Digital Shares Slide 8% on $135M Upsized Convertible Note"},"content":{"rendered":"<div>\n<p>Bit Digital (BTBT) shares slid 8% at the U.S. market open, dropping to $2.92 after the <a href=\"https:\/\/x.com\/BitDigital_BTBT\/status\/1972763450930569632\">company announced an upsized<\/a> $135 million convertible note offering. <\/p>\n<p>Bit Digital increased the size of the 4.00% convertible senior notes <a href=\"https:\/\/x.com\/BitDigital_BTBT\/status\/1972763450930569632\">offering from $100 million<\/a>. Underwriters hold a 30-day option to purchase up to an additional $15 million. The notes will mature on Oct. 1, 2030, unless earlier converted, redeemed or repurchased.<\/p>\n<p>The initial conversion price is set at $4.16 per share, representing a 30% premium over Bit Digital\u2019s Sept. 29 closing price of $3.20. Net proceeds are expected to be about $128.9 million, or $143.3 million if the underwriters fully exercise their option.<\/p>\n<p>Bit Digital intends to use the funds primarily to purchase ether (ETH). As of now, the company holds 121,252 ETH at an average acquisition cost of $2,635.<\/p>\n<p>A similar sell-off occurred last week with <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/09\/26\/cipher-mining-prices-usd1-1b-upsized-convertible-note-offering\">Cipher Mining<\/a> (CIFR), whose shares slumped 19% in two days after a convertible notes issuance.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bit Digital (BTBT) shares slid 8% at the U.S. market open, dropping to $2.92 after the company announced an upsized $135 million convertible note offering. Bit Digital increased the size of the 4.00% convertible senior notes offering from $100 million. Underwriters hold a 30-day option to purchase up to an additional $15 million. The notes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-50299","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/50299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50299"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/50299\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}