Bitdeer plans to issue and sell up to $150 million of Class A common stock to B. Riley

Odaily Planet Daily News Wu Jihan’s Bitdeer Technologies Group issued a prospectus, planning to issue up to 150 million Class A ordinary shares, with a face value of US$0.0000001 per share. Bitdeer may, in its discretion, issue and sell Class A common shares from time to time to B. Riley Principal Capital II pursuant to a Common Stock Purchase Agreement dated August 8, 2023 for up to $150 million. On September 20, 2023, the closing price of Bitdeer Class A common stock was $12.95. At this price, Bitdeer can issue up to 11,583,011 Class A common shares to B. Riley Principal Capital II, accounting for approximately 18.4% of the issued Class A common shares, accounting for approximately 10.4% of the issued common shares, and approximately 10.4% of the publicly traded shares. 24.4%. According to previous news, Bitdeer and B. Riley signed a common stock purchase agreement of up to US$150 million in early August. The sale of the Company's Class A common stock under the Purchase Agreement, as well as the timing of any sales, is entirely at the Company's option, and the Company has no obligation to sell any securities to B. Riley Principal Capital II under the Purchase Agreement.