Business
Ebang International Holdings Inc. Announces Closing of Follow-on Offering
HANGZHOU, China, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a leading Bitcoin mining
About this update from Ebang International Holdings Inc.
[{"type":"text","content":"HANGZHOU, China, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a leading Bitcoin mining machine producer in the global market in terms of computing power sold in 2019*, announced the initial closing of its previously announced best-efforts follow-on offering for the sale of 4 million units of the 8 million units offered for sale by the Company, at a purchase price of $5.25 per unit, for aggregate gross proceeds of approximately $21.0 million. 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 per share of $5.50. The units were sold pursuant to our registration statement which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 17, 2020. The Company may hold one or more additional closings for a period of 45 days after the initial closing, in which the investors purchasing units at the initial closing may each purchase additional units in an amount up to the number of units purchased by each of them at the initial closing. Our Class A ordinary shares are listed on the Nasdaq Global Select Market under the symbol “EBON.”\n Univest Securities, LLC is acting as the exclusive placement agent for this offering. The Company intends to use the net proceeds from the offering primarily for development and application of blockchain technology into financial services, sourcing core intellectual properties relating to its businesses, corporate branding and marketing activities, and general corporate purposes, which may include working capital needs and other corporate uses. The units are offered pursuant to the Company’s registration statement on Form F-1 (the “Form F-1”), as amended, which was originally filed with the SEC on October 23, 2020 and became effective on November 17, 2020. 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 at (212) 343-8888 or by e-mail at [email protected]. This press release shall not constit...