Ebang International Announces Closing of Follow-on Public Offering
April 06 2021 - 5:00PM
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 info@univest.us.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
This press release contains information about
the pending offering of units, and there can be no assurance that
the offering will be completed.
About Ebang International Holdings
Inc.
Ebang International Holdings Inc. is a
blockchain technology company with strong application-specific
integrated circuit (ASIC) chip design capability. With years of
industry experience and expertise in ASIC chip design, it has
become a leading bitcoin mining machine producer in the global
market with steady access to wafer foundry capacity. With its
licensed or registered entities in various jurisdictions, the
Company seeks to launch a professional, convenient and innovative
digital asset financial service platform to expand into the
upstream and the downstream of blockchain and cryptocurrency
industry value chain. For more information, please
visit https://ir.ebang.com.cn/.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, the
Company’s development plans and business outlook, which can be
identified by terminology such as “may,” “will,” “expects,”
“anticipates,” “aims,” “potential,” “future,” “intends,” “plans,”
“believes,” “estimates,” “continue,” “likely to” and other similar
expressions. Such statements are not historical facts, and are
based upon the Company’s current beliefs, plans and expectations,
and the current market and operating conditions. Forward-looking
statements involve inherent known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond the Company’s control, which may cause the
Company’s actual results, performance and achievements to differ
materially from those contained in any forward-looking statement.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. These forward-looking
statements are made only as of the date indicated, and the Company
undertakes no obligation to update or revise the information
contained in any forward-looking statements as a result of new
information, future events or otherwise, except as required under
applicable law.
Investor Relations Contact
For investor and media inquiries, please
contact:
Ebang International Holdings
Inc.Email: ir@ebang.com.cn
Ascent Investor Relations LLCMs. Tina XiaoTel:
(917) 609-0333Email: tina.xiao@ascent-ir.com
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