08:48 AM EST, 12/06/2024 (MT Newswires) -- BTC Digital ( BTCT ) shares were slumping 33% premarket Friday after the company said it priced a public offering of 2.5 million shares at $8.00 apiece for $20 million in aggregate gross proceeds.

The offering includes pre-funded warrants at the same price, minus an exercise price of $0.001 per pre-funded warrant, BTC Digital ( BTCT ) said. Shares available in the offering will be decreased on a one-for-one basis for each pre-fund warrant sold, the company added.

Net proceeds from the offering will be used for general corporate purposes and working capital, BTC Digital ( BTCT ) said. The transaction is expected to close on Monday.