Abits Group (NASDAQ:ABTS) has signed definitive agreements with institutional investors for a registered direct offering expected to raise approximately $2.1 million through the sale of ordinary shares and pre-funded warrants, the company announced.
The transaction involves 792,452 ordinary shares or pre-funded warrants priced at $2.65 per share, matching the prevailing market price in accordance with Nasdaq regulations. Pre-funded warrants issued in the offering will be exercisable immediately and may be exercised at any time until fully converted.
For each pre-funded warrant issued, the number of ordinary shares included in the offering will be reduced on a one-for-one basis. Gross proceeds from the financing are anticipated to total about $2.1 million before expenses.
The closing of the offering is expected to occur on or around February 24, 2026, subject to customary closing conditions.
Aegis Capital Corp. is serving as the exclusive placement agent for the transaction.
More about Abits Group
Abits Group Inc. is a holding company incorporated in the British Virgin Islands with operating subsidiaries across Hong Kong, the United States and mainland China, including Abit Hong Kong Limited, Abit USA, Inc., Abits Inc. and Beijing Bitmatrix Technology Co. Ltd. The company is listed in the United States as a foreign private issuer under the Securities Exchange Act of 1934.