Univest securities, llc. announces completion of $96 million follow-on offering and exercise of warrants for up to approximately $72.4 million for its client ebang international holdings inc. (nasdaq: ebon)

New york, feb. 22, 2021 (globe newswire) -- univest securities, llc, a member of finra and sipc, and a full-service investment bank and securities broker-dealer firm based in new york (“univest”), today announced the completion of a previously announced best-effort follow-on offering by and between its client ebang international holdings inc. (nasdaq: ebon) (the “company”), a blockchain technology company in the global market and several institutional investors (the “investors”), and the sale of an additional 5.2 million units (“units,” each, a “unit”) for a total of 19.2 million units, all of which were registered pursuant to the registration statement on form f-1 (file no. 333-252804), as amended by form f-1mef (file no. 333-252979)(the “registration statement”), for which univest acted as the exclusive agent. the company intends to use the net proceeds from the offering primarily for research, development, production and sales of asics and equipment related to cryptocurrencies, expansion of its cryptocurrency mining business as well as establishment and operation of cryptocurrency mining farms, and general corporate purposes, which may include working capital needs and other corporate uses.
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