Univest Securities, LLC. Announces Closing of $21 Million Follow-on Offering for its Ebang International Holdings Inc. (Nasd...
November 29 2020 - 8:00AM
Univest Securities, LLC, a member of FINRA and SIPC, is a
full-service investment bank and securities broker-dealer firm
based in New York, today announced the closing of $21 million
follow-on offering (the “Offering”) for its Ebang International
Holdings Inc. (Nasdaq: EBON) (the “Company”) to which Univest
Securities, LLC. acted as the exclusive investment bank and
sole-placement agent.
Univest Securities, LLC was able to raise in a
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 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.
Univest Securities, LLC. acted as the exclusive
investment bank and placement agent to the Offering. Hunter Taubman
Fischer & Li LLC acted as counsel to Univest in connection with
the Offering.
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 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.
About Univest Securities, LLC.
Registered with FINRA since 1994, Univest
Securities, LLC. provides a wide variety of financial services to
its institutional and retail clients globally including brokerage
and execution services, sales and trading, market making,
investment banking and advisory, wealth management. It strives to
provide clients with value-added service and focuses on building
long-term relationship with its clients. For more information,
please visit: www.univest.us.
About Ebang International Holdings Inc.
Ebang International Holdings Inc. is a leading
Bitcoin mining machine producer in the global market in terms of
computing power sold in 2019*, with strong application-specific
integrated circuit (ASIC) chip design capability underpinned by
nearly a decade of industry experience and expertise in the
telecommunications business. With its licensed or registered
entities in various jurisdictions, the Company seeks to launch a
fully-licensed digital asset financial service platform to provide
professional, convenient and innovative trading services. For more
information, please visit https://ir.ebang.com.cn/.
*According to an industry report prepared by
Frost & Sullivan in 2019
Forward-Looking Statements
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 and Media Contact
Univest Securities, LLC.Edric Guo375 Park Avenue
#1502New York, NY 10152Phone: (212) 343-8888Email:
info@univest.us
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