Bit Digital falls after unveiling $100 mln convertible debt offering
** Shares of digital asset miner Bit Digital down 10.3% after hours to $2.87 as it seeks capital raise ** New York-based BTBT announces public offering of $100 mln 5-yr convertible bonds ** Co to use net offering proceeds primarily to purchase cryptocurrency Ethereum , and possibly for potential investments, acquisitions relating to digital assets ** Barclays, Cantor Fitzgerald and B. Riley Secs are joint bookrunners ** BTBT also says in a filing it expects rev of $20.1-$22.2 mln for two months ended and as of Aug 31, and cash and equivalents of about $163.7-$173.9 mln ** Co has ~321.4 mln shares outstanding for roughly $1 bln market cap ** BTBT shares on Mon ended up 8.5% at $3.20, up 9% YTD ** In Jun, BTBT priced $150 mln equity offering at $2 for its pivot to ETH ** All 5 analysts covering BTBT rate the stock "buy" and median PT is $5.50, LSEG data reflects