Business
Ebang International Announces Closing of Follow-on Public Offering
HANGZHOU, China, April 06, 2021 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a blockchain technology
About this update from Ebang International Holdings Inc.
[{"type":"text","content":"HANGZHOU, China, April 06, 2021 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a blockchain technology company in the global market, today announced the closing of its previously announced best-efforts follow-on public offering for the sale of 14 million units offered for sale by the Company, at a purchase price of US$6.10 per unit, for aggregate gross proceeds of approximately US$85.4 million, pursuant to the terms of a Securities Purchase Agreement executed by the Company and certain institutional investors, dated March 31, 2021 (the “Offering”). Each unit consists of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share of the Company. Each two warrants have an exercise price of US$6.59 per Class A ordinary share. The units, the warrants, and the Class A ordinary shares underlying the units and the warrants have been registered pursuant to a registration statement declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2021. Univest Securities, LLC, as representative, and Lake Street Capital Markets, LLC, served as placement agents in connection with the Offering, pursuant to a Placement Agent Agreement executed by the Company and each of the placement agents, dated March 31, 2021. The Company intends to use the net proceeds from the offering primarily for expansion of its cryptocurrency mining business as well as establishment and operation of cryptocurrency mining farms, establishment and operation of cryptocurrency exchange platforms and general corporate purposes, which may include working capital needs and other corporate uses. The units were offered pursuant to the Company’s registration statement on Form F-1, which was filed with the SEC on March 26, 2021 and became effective on March 31, 2021. The units may be offered only by means of a prospectus forming a part of the effective registration statement. Copies of the final prospectus may be obtained at the SEC’s website at http://www.sec.gov. Electronic copies of the prospectus may also be obtained by contacting Univest Securities, LLC at 375 Park Ave #1502, New York, NY 10152, by phone (212) 343-8888 or e-mail [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any ...