Ebang International Holdings Inc. is closing its follow-on public providing for the sale of 14 million units offered for purchase by the Company, at a cost of US$6.10 per device, for aggregate gross profits of around US$85.4 million, pursuant to your terms of a Securities Purchase Agreement performed by the Company and certain institutional investors, dated March 31, 2021 (the “Offering”).
Each unit is composed of one course a share that is ordinary one warrant purchasing one-half of 1 course A ordinary share of this Company. Each two warrants have actually an exercise price of US$6.59 per Class A share that is ordinary. The devices, the warrants, while the Class A stocks which can be ordinary the devices as well as the warrants have now been registered pursuant up to a enrollment declaration declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2021, Meta News found.
Univest Securities, LLC, as representative, and Lake Street Capital Markets, LLC, served as positioning agents in connection with the Offering, pursuant to a Placement Agent Agreement performed by the ongoing company and every regarding the placement agents, dated March 31, 2021.
The Company intends to make use of the web profits from the providing primarily for expansion of its cryptocurrency mining company also establishment and operation of cryptocurrency mining farms, establishment and operation of cryptocurrency change platforms and basic corporate purposes, which may include capital that is working and other corporate uses.
The units had been offered pursuant towards the Company’s registration statement on Form F-1, that has been filed aided by the SEC on March 26, 2021 and became effective on March 31, 2021. The units could be provided just in the shape of a prospectus developing part of the enrollment declaration that is beneficial. Copies of this final prospectus can be obtained during the SEC’s internet site.
This press release shall maybe not represent an offer to offer or a solicitation of an offer to buy nor shall there be any purchase of those securities in every state or jurisdiction by which offer that is such solicitation or sale will be illegal before the registration or qualification underneath the securities regulations of any such state or jurisdiction.
This news release contains details about the offering that is pending of, and there may be no assurance that the providing are completed. Ebang International Holdings Inc. is closing its follow-on public.