Why Bit Brother Shares Are Trading Lower Friday?

Bit Brother Ltd BTB shares are trading lower after entering into a securities purchase agreement with certain accredited investors to sell $50 million of its shares in a registered direct offering.

Under the terms of the securities purchase agreement, Bit Brother has agreed to sell shares for $0.25 per share.

The offering is expected to close on or about July 18, 2023.

Price Action: BTB shares are trading lower by 18.66% at $0.6255 on the last check Friday.