Aether Holdings Shares Fall On Plans for $40 Million Stock Offering

By Nicholas G. MillerShares of Aether Holdings fell Monday after the company said it planned a $40 million public offering to raise funds to buy bitcoin.The stock was down 7.9% to $12.03 and has more than doubled since the company's IPO in April.The offering will be priced after the market closes Tuesday and is expected to close Thursday.The company said it would use 85% of the proceeds from the planned offering to acquire bitcoin and use the remaining 15% for working capital.Write to Nicholas G. Miller at [email protected].