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Ebang Announces Closing Of Its Public Offering Funding.

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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