Athena Bitcoin Clears Way For Early Investors to Sell Shares
Athena Bitcoin Global has filed to register 473 million common shares for resale by former investors, including early backers and insiders, following a secured convertible debenture conversion. This registration aims to enhance the company's profile in the Bitcoin ATM sector and facilitate attracting additional equity capital for expansion. The stock trades under the ticker ABIT on the OTC Pink Market, known for minimal disclosure and high investment risk. Athena has not applied for an uplisting to higher tiers with stricter requirements. Daily trading volume has varied significantly, with stock consistently trading below $0.10. The company noted broader crypto market challenges due to the collapses of FTX, Celsius, and Voyager, which affected transaction volumes and user sentiment, although it claimed no material direct impact. Athena gained prominence in 2021 by deploying Bitcoin ATMs in El Salvador, which has faced scrutiny over its crypto strategy.
