Business
Baosheng Media Group Holdings Limited to Receive US$10 Million Investment
Beijing, China, March 18, 2021 (GLOBE NEWSWIRE) -- Baosheng Media Group Holdings Limited (the “Company”) (Nasdaq: BAOS), a China-based online marketing
About this update from Baosheng Media Group Holdings Limited
[{"type":"text","content":"Beijing, China, March 18, 2021 (GLOBE NEWSWIRE) -- Baosheng Media Group Holdings Limited (the “Company”) (Nasdaq: BAOS), a China-based online marketing solution provider, today announced the Company has entered into a securities purchase agreement (the “Securities Purchase Agreement”) with two investors, including a wholly-owned subsidiary of Ebang International Holdings Inc. (Nasdaq: EBON) (“Ebang International”) for an investment of US$10 million. Pursuant to the Securities Purchase Agreement, the Company has agreed to issue an aggregate of 1,960,784 units to the investors, with each unit consisting of one ordinary share of the Company, par value $0.0005 per share (the “Ordinary Shares”) and a warrant to purchase one half of one Ordinary Share at an exercise price of $5.61. The Company intends to use the net proceeds it receives from the investment for blockchain-based marketing activities and cryptocurrency associated business. The Company plans to accept Bitcoin and other cryptocurrencies as the transaction approach for future advertising business, participate in the settlement and clearing process of cryptocurrencies, invest and explore opportunities in cryptocurrencies and other areas of the digital economy, implement the application of blockchain technology in the field of digital marketing, and create a potential real-time blockchain-based advertising exchange or trading platform. Ms. Wenxiu Zhong, Chairwoman and CEO of the Company, commented, “We are excited about Ebang International’s investment in our business, Ebang International has extensive industry experience in the blockchain field. As a prominent blockchain company, Ebang International has strong technologies and market competitiveness in the fields of data communication, cryptocurrencies, and ASIC chip designing. It can provide us with blockchain technology support to apply blockchain in digital marketing. We expect to have comprehensive and in-depth cooperation with Ebang International in the future.” This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or j...