Abits Group Shares Drop After $2.1 Million Direct Offering
By Chris Wack
Shares of Abits Group were 25% lower, at $2.79, after the company said it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of $2.1 million shares and pre-funded warrants at $2.65 a share.
The cryptocurrency company said the offering consisted of the sale of 792,500 shares or pre-funded warrants.
The pre-funded warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each pre-funded warrant sold in the offering, the number of ordinary shares in the offering will be decreased on a one-for-one basis.
Abits said it expects to see proceeds of $2.1 million. The transaction is expected to close on or about Tuesday.
The company expects to use the proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 23, 2026 10:49 ET (15:49 GMT)
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