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 will mature on Oct. 1, 2030, unless earlier converted, redeemed or repurchased.

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