Mercurity fintech holding announces $5 million private placement

Shenzhen, china, oct. 19, 2021 (globe newswire) -- mercurity fintech holding inc. (nasdaq: mfh) ("mercurity" or the "company"), a fintech company powered by blockchain technology and provides services including asset digitization, and cross-border remittance technology support, announced today that it has entered into purchase agreements with investors for aggregate gross proceeds of approximately $5 million to the company, which will be settled in the form of usdc. pursuant to the private placements, the company will issue up to 571,428,570 ordinary shares at a purchase price of $0.00875 per ordinary share, and warrants to purchase up to 571,428,570 ordinary shares at agreed prices. the company's american depositary shares ("ads") are listed on the nasdaq capital market. each ads represents 360 ordinary shares. mercurity expects to use the net proceeds from the offering for general corporate purposes, including continued investments in purchasing bitcoin mining hardware, product development, research and development expenses, and working capital.
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