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Category: CRYPTO NEWS
The post Athena Bitcoin Clears Way For Early Investors to Sell Shares appeared on BitcoinEthereumNews.com. In brief The filing registers 473 million shares for resale by early investors, insiders, and former employees. Athena said it plans to uplist to a higher OTC tier but offered no timeline or operational update. The company gained early prominence for being the first to deploy Bitcoin ATMs in El Salvador. Athena Bitcoin Global, a U.S.-based crypto ATM operator with a focus on Latin America, has filed to register hundreds of millions of shares for resale by former investors, marking a potential exit tied to earlier debt financing. The S-1 filing appeared on the SEC archives Tuesday, detailing how Athena would register 473 million common shares for resale by more than two dozen shareholders, including early backers, company insiders, and former employees. Many of its shares were issued following the conversion of a secured convertible debenture, a type of debt instrument that can be converted into equity at a later date. Athena said the registration would increase its profile “as a leading company in the international operation of Bitcoin ATMs” and potentially “make it easier to attract additional equity capital,” which it needs to fund its expansion. The operator did not immediately respond to Decrypt’s request for comment. The move enables investors to exit their position by selling shares they acquired through a prior debt agreement. While it would provide liquidity, it may also impact shareholder value. Athena gained prominence in 2021 when it became the first operator to deploy Bitcoin ATMs in El Salvador. Its stock trades under the ticker ABIT on the OTC Pink Market, the lowest tier of U.S. public markets, known for minimal disclosure requirements, limited liquidity, and heightened investment risk. Despite prior plans, Athena said it has not yet applied for an uplisting to OTCQB or OTCQX, which impose stricter disclosure requirements, per the filing. While…
2025-06-26T02:38:23+00:00