CHANGSHA, China, July 14,
2023 /PRNewswire/ -- Bit Brother Limited ("Bit
Brother, " "We" or the "Company") (NASDAQ: BTB), announced today
that it has entered into a securities purchase agreement with
certain accredited investors to sell $50
million of its Class A Ordinary Shares in a registered
direct offering.
Under the terms of the securities purchase agreement, Bit
Brother has agreed to sell 2,000,000,000 Class A Ordinary Shares.
The purchase price for one Class A Ordinary Share will be
$0.25. The gross proceeds to Bit
Brother are estimated to be $50
million before deducting the estimated offering
expenses.
The registered direct offering is expected to close on or about
July 18, 2023, subject to the
satisfaction of customary closing conditions.
The Class A Ordinary Shares being sold pursuant to the
registered direct offering are being made pursuant to a shelf
registration statement on Form F-3 (File No. 333-256628),
previously filed with the Securities and Exchange Commission (the
"SEC") on May 28, 2021, amended on
June 3, 2021 and declared effective
on June 8, 2021. Such
securities are being offered only by means of a prospectus. A
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the registered direct offering will be
filed with the SEC. When available, copies of the prospectus
supplement and the accompanying prospectus relating to the
registered direct offering may be obtained at the SEC's website
www.sec.gov or by contacting the Company, 15/F, Block A, Kineer
Business Centre, 53 Binjiang Road, Yuelu District, Changsha, Hunan
Province, China 410023.
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 any 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
conducted research and planning of our blockchain technology and
cryptocurrency mining business since 2021 and started
crypto mining operations in North America. For more information, please
visit: www.bitbrother.com.
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.
View original
content:https://www.prnewswire.com/news-releases/bit-brother-limited-announces-pricing-of-50-million-registered-direct-offering-301877519.html
SOURCE Bit Brother Limited