Ebang Announces Closing Of Its Public Offering Funding.
2021-02-19 | Eddy Morgan
Renowned Bitcoin mining equipment maker Ebang [EBON] announces the closing of its follow-up public offering.
Institutional investors have agreed
to buy 14 Mln units at $5 USD per share,
consistent with Ebang's official announcement. Each unit consists
of Class 1 A ordinary share and one warrant to get one-half
of Class 1 A ordinary share.
The proceeds
are going to be used primarily for research, development, production, and sale
of products and expanding its mining business via the establishment and operation of cryptocurrency mining farms.
Hangzhou, China-based Ebang has also earlier
revealed its intentions to launch a
cryptocurrency exchange
within the primary half of this year.
Ebang's shares closed up 7.73% at $11.29 USD on the Nasdaq yesterday.
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