BIT Mining (NYSE: BTCM), a number one technology-driven cryptocurrency mining firm, introduced the closing of its registered direct providing with sure institutional buyers. The corporate had introduced the providing earlier this week. In accordance with the announcement, the closed providing constitutes the acquisition and sale of 15,566,665 of BTCM American Depositary shares (“ADSs”), Collection A warrants to buy as much as an mixture of 15,566,665 ADSs and Collection B warrants to buy as much as an mixture of 15,566,665 ADSs — all at a mixed buy value of $0.60 per ADS and related warrants. The announcement famous that the Collection A warrants, which expire 5 years from the date of issuance, have an train value of $0.66 every and are exercisable instantly, whereas the Collection B warrants have an train value of $0.60 per ADS, are additionally exercisable instantly, and expire two and a half years from the date of issuance. Gross proceeds from the providing will attain an estimated $9.3 million, earlier than commonplace deductions, and Bit Mining anticipates utilizing the web proceeds to spend money on mining machines, develop infrastructure, enhance working capital place and spend money on new enterprise alternatives. In accordance with the announcement, Revere Securities LLC acted because the unique placement agent for the providing.
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About BIT Mining Restricted
BIT Mining is a number one technology-driven cryptocurrency mining firm, with a long-term technique to create worth throughout the cryptocurrency trade. Its enterprise covers cryptocurrency mining, mining pool, data-center operation. The corporate owns the world’s prime blockchain browser — BTC.com — and the great mining pool enterprise operated beneath BTC.com, offering multicurrency mining companies together with BTC, ETH and LTC. The corporate additionally owns a 7-nanometer cryptocurrency mining machine producer, Bee Computing, enabling the Firm’s self-sufficiency via vertical integration with its provide chain. For additional details about the corporate, go to www.BTCM.group.
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