According to Businesswire, Empery Digital used proceeds from a recent equity offering and a 370 Bitcoin sale to fully repay its term loan and release roughly 1,800 BTC from collateral.
Empery Digital, a Nasdaq-listed Bitcoin treasury company, sold 370 Bitcoin for about $24.7 million, reducing its holdings to 2,989 BTC, according to Businesswire. The company said proceeds from the Bitcoin sale, together with funds from a recent equity offering, were used to fully repay its term loan. As a result, about 1,800 BTC that had previously been pledged as collateral are expected to be released. This update materially changes the company’s previously reported balance-sheet actions by shifting the focus from share buybacks to debt repayment and collateral release.