Bit Brother Limited Announces Pricing Of $50 Million Registered Direct Offering Of 2B Shares Of Class A Ordinary Shares At A Purchase Price Of $0.25/Share
Portfolio Pulse from Happy Mohamed
Bit Brother Limited (NASDAQ:BTB) has announced a registered direct offering of 2 billion Class A Ordinary Shares at a purchase price of $0.25 per share, aiming to raise $50 million. The offering is expected to close on July 18, 2023.
July 14, 2023 | 1:16 pm
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Bit Brother's direct offering of 2 billion shares could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
The direct offering of 2 billion shares by Bit Brother could lead to dilution of existing shareholders' equity. This could potentially lead to a decrease in the stock price in the short term as the market adjusts to the increased number of shares. However, the raised capital could be used for beneficial company growth in the long term.
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