XIAMEN, China, Feb. 4,
2021 /PRNewswire/ -- Blue Hat Interactive Entertainment
Technology (NASDAQ: BHAT), a leading producer, developer and
operator of augmented reality interactive entertainment games, toys
and educational materials in China, today announced that it has closed a
registered direct offering with two institutional investors, for
the purchase and sale of 7,160,000 of its ordinary shares at a
price of $1.06 per share, resulting
in total gross proceeds of $7,589,600, before deducting the placement
agent's fees and other estimated offering expenses. The Company
also issued to the investors unregistered warrants to purchase up
to 3,580,000 ordinary shares in a concurrent private placement. The
warrants have an exercise price of $1.33 per share, will be exercisable immediately
and will expire three years following the date of issuance. The
Company has 46,973,660 ordinary shares outstanding after the
closing.
The net proceeds from this offering will be used for general
working capital purposes.
FT Global Capital, Inc. acted as the exclusive placement agent
for the transaction.
Pryor Cashman LLP acted as counsel to the Company and Schiff
Hardin LLP acted as counsel to the Placement Agent in connection
with the placement.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. Any offer will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement.
About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer,
developer and operator of AR interactive entertainment games and
toys in China, including
interactive educational materials, mobile games, and toys with
mobile game features. The Company's interactive entertainment
platform creates unique user experiences by connecting physical
items to mobile devices, which creates a rich visual and
interactive environment for users through the integration of real
objects and virtual scenery. Distinguished by its own proprietary
technology, Blue Hat aims to create an engaging, interactive and
immersive community for its users. For more information, please
visit the Company's investor relations website at
http://ir.bluehatgroup.com. The Company routinely provides
important information on its website.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
All forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the Company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the Company's SEC filings. These risks
and uncertainties could cause the Company's actual results to
differ materially from those indicated in the forward-looking
statements.
Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net
Investor Relations:
The Equity Group Inc. In China
Adam Prior
Phone: (212) 836-9606
Email: aprior@equityny.com;
Senior Vice President Lucy Ma,
Associate
Phone: +86-10-5661-7012
Email: lma@equityny.com
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SOURCE Blue Hat Interactive Entertainment Technology