Golden Finance reported that Bitdeer Technology Group (NASDAQ: BTDR) announced that it has entered into a subscription agreement with Tether International Limited ("Tether") to issue 18,587,360 Class A common shares in a private placement and to purchase warrants for up to 5,000,000 shares at a price of $10.00 per share. The private placement was completed on May 30, 2024. The transaction generated $100 million in total proceeds from the stock issuance, and an additional $50 million may be provided if the warrants are fully exercised. The warrants are subject to customary anti-dilution provisions reflecting stock dividends and spin-offs or other similar transactions, as well as weighted average anti-dilution protection for the issuance of common shares or common stock equivalents, with a per-share consideration lower than the initial exercise price of the warrants. The warrants may be exercised at Tether's discretion within 12 months after the completion of the transaction. Bitdeer intends to use the net proceeds from this private placement to fund its data center expansion, ASIC-based mining equipment development, and working capital and other general corporate purposes.