Univest Securities, LLC. Announces Closing of $70 Million Follow-on Offering for its Client Ebang International Holdings Inc....
February 17 2021 - 4:00PM
Univest Securities, LLC, a member of FINRA and SIPC, and a
full-service investment bank and securities broker-dealer firm
based in New York, today announced the closing of a previously
announced best-effort follow-on public offering for the sale of 14
million units (the “Offering”) by its client Ebang International
Holdings Inc. (Nasdaq: EBON) (the “Company”), a blockchain
technology company in the global market, for which Univest
Securities, LLC. acted as the exclusive agent. Univest Securities,
LLC was able to raise aggregate proceeds of approximately US $70
million for the Company, with the placement of 14 million units at
a purchase price of $5.00 per unit. 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 Class A ordinary share of US$5.25.
On February 11, 2021, the Company entered into
Securities Purchase Agreements with institutional investors that
have agreed to purchase an aggregate of 14 million units at the
initial closing. 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 February 10, 2021
and a registration statement pursuant to Rule 462(b) of the
Securities Act of 1933, as amended, which became effective upon
filing on February 11, 2021. The Company may hold one or more
additional closings until the maximum number of units, up to
19,200,000 units, are sold or the Offering is terminated. The
Company’s Class A ordinary shares are listed on the Nasdaq Global
Select Market under the symbol “EBON.” On February 11, 2021, the
Company also entered into a Placement Agent Agreement with Univest
Securities, LLC, as representative of the several placement agents
identified therein, including Lake Street Capital Markets, LLC.
The Company intends to use the net proceeds from
the Offering primarily for research, development, production and
sales of ASICs and equipment related to cryptocurrencies, expansion
of its cryptocurrency mining business as well as establishment and
operation of cryptocurrency mining farms, and general corporate
purposes, which may include working capital needs and other
corporate uses.
The units are offered pursuant to the Company’s
registration statement on Form F-1, as amended, which was
originally filed with the SEC on February 5, 2021 and became
effective on February 10, 2021, and pursuant to a registration
statement on Form F-1MEF filed on February 11, 2021 which became
effective upon filing. 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 Offering, and there can be no assurance that the
additional closings will be completed.
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-add 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
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/.
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, statements
regarding the sale of the maximum number of units registered in the
Offering. Further information regarding the Offering is included in
the Company's filings with the U.S. Securities and Exchange
Commission.
For more information, please
contact:
Univest Securities, LLC.Edric GuoExecutive
Director of Investment Banking375 Park Avenue #1502New York, NY
10152Phone: (212) 343-8888Email: info@univest.us
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