HANGZHOU, China, April 6, 2021 (GLOBE NEWSWIRE) – Ebang International Holdings Inc. (Nasdaq: EBON, the ‘Company’, ‘us’ or ‘us’), a blockchain technology company in the global market, today announced the closure of its previously announced follow-on public offering for the sale of 14 million units owned by the company offered for sale, at a purchase price of US $ 6.10 per unit, for a total return of approximately US $ 85.4 million, under the terms of a Security Purchase Agreement executed by the Company and certain institutional investors, dated 31 March 2021 (the “Offer”). Each unit consists of one Class A ordinary share and one warrant to buy half of one ordinary A share in the company. Each warrant has an exercise price of US $ 6.59 per Class A share. The units, the warrants and the Class A ordinary shares underlying the units and the warrants were registered in accordance with a registration declaration declared effective by the US Securities and Exchange Commission (the “SEC”) on March 31, 2021.
Univest Securities, LLC, as representative, and Lake Street Capital Markets, LLC, served as Placement Agents in connection with the Offer, under a Placement Agent Agreement executed by the Company and each of the Placement Agents, dated March 31, 2021.
The company intends to use the net proceeds of the offer primarily for the expansion of its cryptocurrency mining industry, as well as the establishment and operation of cryptocurrency mining sites, the establishment and operation of cryptocurrency exchange platforms and general corporate purposes, which needs working capital and other corporate uses.
The units were offered on the basis of the company’s registration declaration on Form F-1, which was filed with the SEC on March 26, 2021 and came into effect on March 31, 2021. The units may only be offered by means of a prospectus that forms part of the effective registration statement. Copies of the final prospectus can be obtained on 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 telephone (212) 343-8888 or by email. [email protected].
This press release is not an offer to sell or a request to buy, nor will any sale of these securities take place in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under these are the security laws of such a state or jurisdiction.
This press release contains information on the pending offer of units, and there can be no assurance that the offer will be completed.
About Ebang International Holdings Inc.
Ebang International Holdings Inc. is a blockchain technology enterprise with strong application-specific integrated circuit (ASIC) disk design capability. With years of experience and expertise in designing ASIC chips, it has become a leading manufacturer of bitcoin mining machines in the world market, with steady access to wafer foundry capacity. With its licensed or registered entities in different jurisdictions, the company wants to launch a professional, convenient and innovative digital asset service digital platform to expand to the upstream and downstream value chain of the blockchain and cryptocurrency industry. 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 Reform Litigation Act of 1995. These forward-looking statements contain, without limitation, the Company ‘s development plans and prospects, which can be identified by terminology such as ‘power’, ‘will’, ‘expect’, ‘expect’, ‘aim’, ‘potential’, ‘future’, ‘intentions’, ‘plans,’ ” Believe, “” estimate, “” continue, “” probably “and other similar expressions, such statements are not historical facts, and are based on the company’s current beliefs, plans and expectations and current market and operating conditions. Forward-looking statements involve inherent known or unknown risks, uncertainties and other factors, which are difficult to predict and many of which are beyond the company’s control, which could lead to the company’s real re. results, performance and achievements materially differ from those contained in the company. in any forward-looking statement. Further information regarding these and other risks, uncertainties or factors is contained in the filing of the Company with the U.S. Securities and Exchange Commission. These forward-looking statements are made only on the indicated date and the Company undertakes no obligation to update or revise the information in any forward-looking statements due to new information, future events or otherwise, except as required under applicable law.
Contact with investor relations
For investor and media inquiries, contact:
Ebang International Holdings Inc.
Email: [email protected]
Ascent Investor Relations LLC
Me Tina Xiao
Tel: (917) 609-0333
Email: [email protected]