NEW YORK, June 29, 2022 (GLOBE NEWSWIRE) — Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced that it has exercised in full its option to purchase an additional 1,470,588 ordinary shares of the previously completed underwritten public offering of ordinary shares for its client Bit Origin Ltd (the “Company”, NASDAQ: BTOG), an emerging growth company engaged in crypto mining business with diversified expansion strategies. The over-allotment option was offered at an offering price of $0.51 per ordinary share, resulting in additional gross proceeds of approximately $0.75 million before deducting underwriting discounts and other related expenses.
After giving effect to the full exercise of the over-allotment option, the total number of ordinary shares sold by the Company in the offering increased to 11,274,510 and total gross proceeds of the offering increased to approximately $5.75 million, before underwriting discounts and estimated offering expenses.
The Company intends to use the net proceeds from the offering for working capital and general business purposes.
Univest Securities, LLC acted as the sole book runner for this offering. Ortoli Rosenstadt LLP served as counsel to the Company, and Hunter Taubman Fischer & Li LLC served as counsel to Univest Securities, LLC in connection with the offering.
The sale of the ordinary shares in…
