- Bit Brother Ltd (NASDAQ:BTB) said it has entered into a securities purchase agreement with certain accredited investors to sell $7.1 million of its shares and warrants.
- Under the terms of the securities purchase agreement, Bit Brother has agreed to sell 1.6 million and warrants to purchase 2.4 million shares.
- The purchase price for one ordinary share and one corresponding warrant will be $4.50.
- The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $4.50. The warrants will expire five years from the date of issuance.
- The offering is expected to close on January 20, 2023.
- Price Action: BTB shares are trading lower by 70.3% at $1.96 on the last check Wednesday.
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