CHANGSHA, China, July 20, 2021 /PRNewswire/ -- Bit Brother Limited
("Bit Brother, " "We" or the "Company") (NASDAQ: BTB), announced
today the closing on July 20, 2021 of
its previously announced registered direct offering of 15 million
ordinary shares and warrants to purchase 15 million ordinary shares
at a purchase price of $1.50 per
share for gross proceeds of $22.5
million. The warrants are exercisable immediately upon the
date of issuance and have an exercise price of $1.50. The warrants will expire five years from
the date of issuance.
Maxim Group LLC ("Maxim") acted as sole placement agent for this
offering.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form F-3 (File No.
333-256628) filed with the Securities and Exchange Commission
(the "SEC") dated May 28, 2021, as
amended on June 3, 2021 and declared
effective on June 8, 2021. A
prospectus supplement related to the offering has been filed with
the SEC and is available on the SEC's website at
http://www.sec.gov. Copies of the prospectus supplement relating to
the offering may be obtained by contacting: Maxim Group LLC, 300
Park Avenue, 16th Floor, New
York, NY 10022, by telephone: at (212) 895-3745.
This press release shall not constitute an offer to sell or the
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 such state or
jurisdiction.
About Bit Brother Limited
Bit Brother Limited (formerly known as Urban Tea, Inc.) was incorporated in the
British Virgin Islands as a
company with limited liability on November
28, 2011. Our business currently consists of the
distribution and retail of specialty tea products. We have recently
decided to start operations in the business of blockchain
technology and cryptocurrency mining. We anticipate utilizing our
newly formed subsidiary Hunan Bit Brother Holding Limited to
conduct research and development of blockchain-based software and
applications and the commercialization of such applications, as
well as cryptocurrency mining. For more information, please visit:
http://ir.h-n-myt.com/investor.
Forward-Looking Statements Disclaimer
This press release contains certain statements that may include
"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including the risk factors discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these risk factors. Other than as required under the
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
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SOURCE Bit Brother Limited