O’Melveny advises B. Riley Securities as sole bookrunner for US$172.5 million deal

O’Melveny recently provided advice to B. Riley Securities as the sole bookrunner for a follow-on offering for Bit Digital, Inc. The offering totaled US$172.5 million and concluded on June 25. Bit Digital is a digital asset platform traded publicly, emphasizing Ethereum-based treasury and staking methods. The funds from this offering will be utilized to acquire additional ETH and augment long-term ETH accumulation and staking as a fundamental treasury asset.

B. Riley Securities specializes in offering a complete range of investment banking and capital markets services to various clients, including corporations, financial sponsors, and institutional investors spanning all industry sectors. The team from O’Melveny that aided B. Riley Securities in this recent transaction was led by partners David Ni and Jeeho Lee, along with associates Etienne Dumas, Susanna Korkeakivi, and Bryanna Willis. Additional team members included partners Luc Moritz, Robert Plesnarski, and Jim Harrigan, as well as counsel Dawn Lim.

O’Melveny, as a legal organization, focuses not only on what they do but also on how they do it. They measure success not by their achievements but by the accomplishments of the clients they serve. O’Melveny strives to ensure that their clients never have to compromise between superior legal services and excellent customer care. The firm encourages clients to share their goals to enable them to achieve success.

Bit Digital, Inc. made an additional announcement regarding the underwriters exercising their option to buy additional ordinary shares post their public offering, resulting in an extra 11,250,000 ordinary shares being sold. This exercise led to around $21.4 million in net proceeds for the company. Following this event, a total of 86,250,000 ordinary shares were sold in the underwritten public offering, yielding net proceeds of roughly $162.9 million for the company after deducting expenses.

For the offering, B. Riley Securities took on the role of the sole bookrunning manager, with Clear Street, Craig-Hallum, and Northland Capital Markets acting as co-managers. The securities were offered by Bit Digital through a shelf registration statement initially filed with the SEC on April 30, 2025, and declared effective on June 20, 2025. This press release emphasizes that it does not constitute an offer to buy or sell securities and that careful consideration should be taken before making any investment decisions.

Bit Digital, Inc. is a publicly traded digital asset platform that specializes in Ethereum-native treasury and staking strategies. The company began accumulating and staking ETH in 2022 and now operates one of the largest Ethereum staking infrastructures worldwide. Their platform includes advanced validator operations, custody services, protocol governance, and yield optimization. Through strategic partnerships, Bit Digital aims to provide secure and scalable access to on-chain yield within the Ethereum ecosystem.