Ebang international announces closing of follow-on public offering

Hangzhou, china, april 06, 2021 (globe newswire) -- ebang international holdings inc. (nasdaq: ebon, the “company,” “we” or “our”), a blockchain technology company in the global market, today announced the closing of its previously announced best-efforts follow-on public offering for the sale of 14 million units offered for sale by the company, at a purchase price of us$6.10 per unit, for aggregate gross proceeds of approximately us$85.4 million, pursuant to the terms of a securities purchase agreement executed by the company and certain institutional investors, dated march 31, 2021 (the “offering”). 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 have an exercise price of us$6.59 per class a ordinary share. the units, the warrants, and the class a 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.
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