Ebang international announces pricing of follow-on public offering

Hangzhou, china, april 01, 2021 (globe newswire) -- ebang international holdings inc. (nasdaq: ebon, the “company,” “we” or “our”), a blockchain technology company in the global market, today announced its pricing of a best-effort follow-on public offering of 14 million units at a purchase price of us$6.10 per unit. 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 will have an exercise price of us$6.59 per class a ordinary share and will expire 5 years from issuance. on march 31, 2021, the company entered into securities purchase agreements with institutional investors that have agreed to purchase an aggregate of 14 million units at the closing. the units, the warrants, and the 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. the company expects to close the offering on or around april 6, 2021, subject to customary closing conditions.
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