Ebang International Announces Pricing of Follow-on Public Offering
April 01 2021 - 8:45AM
Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,”
“we” or “our”), a blockchain technology company in the global
market, today announced its pricing of a best-effort follow-on
public offering of 14 million units at a purchase price of US$6.10
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 will have an exercise price of US$6.59
per Class A ordinary share and will expire 5 years from issuance.
On March 31, 2021, the Company entered into Securities Purchase
Agreements with institutional investors that have agreed to
purchase an aggregate of 14 million units at the closing. The
units, the warrants, and the ordinary shares underlying 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 March 31, 2021. The Company expects to
close the offering on or around April 6, 2021, subject to customary
closing conditions.
On March 31, 2021, we 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 expects to receive gross proceeds at
the closing of US$85.4 million, which does not include expenses
associated with the offering. The Company intends to use the net
proceeds from the offering primarily for expansion of its
cryptocurrency mining business as well as establishment and
operation of cryptocurrency mining farms, establishment and
operation of cryptocurrency exchange platforms 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 March 26, 2021 and
became effective on March 31, 2021. The units may be offered
only by means of a prospectus forming a part of the effective
registration statement. When filed with the SEC, 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, when available, 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 pending offering of units, and there can be no assurance that
the offering will be completed.
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/.
Safe Harbor Statement
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 Relations Contact
For investor and media inquiries, please
contact:
Ebang International Holdings
Inc.Email: ir@ebang.com.cn
Ascent Investor Relations LLCMs. Tina XiaoTel:
(917)
609-0333Email: tina.xiao@ascent-ir.com
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