Ebang international announces completion of follow-on public offering and exercise of warrants for approximately $72.4 million in gross proceeds

Hangzhou, china, feb. 22, 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 completion of the previously announced offering by and between the company 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”). 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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