BlockchAIn Digital Infrastructure announced that the underwriter of its public offering has fully exercised its option to purchase an additional 4,999,999 shares of common stock at $1.65 per share, generating approximately $8.25 million in additional gross proceeds. Including this full exercise, the company sold a total of 38,333,333 shares in the offering for aggregate gross proceeds of about $63.25 million before underwriting discounts and other expenses. The net proceeds are intended for working capital, capital expenditures to grow the business, and general corporate purposes. Lucid Capital Markets acted as the sole book-running manager for the offering.
BlockchAIn Digital Infrastructure, IncDilutive public offering of 38.3M shares at $1.65, raising $63.25M, increases share count and dilutes existing holders.