The minimum is still only $500k - and they will battle to get that figure.
Yes, 270mil shares are on offer but that is fairy tale land if all get taken up. The current SP is less than the offer price.
Even BIT knows that and is the reason they mentioned winding up the company "while it is still solvent".
To be honest, if miracles do happen and $2.7mil is raised, there is no mention how those funds will be used - and that is a notable omission from the announcement.
I think there is very little chance that BIT can achieve $500k - and I think we won't be commenting on any HC forum about BIT at the end of 2025.
The minimum raising that will be accepted under the SPP is 50,000,000 shares to raise $500,000. In the event that this minimum subscription amount is not achieved, application monies will be refunded in full (without interest) and the Directors will seek to appoint a Voluntary Administrator or wind the Company up whilst solvent.
BIT Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
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