EBON - Ebang International prices ~$85M follow-on offering

Ebang International Holdings (EBON) prices its follow-on direct offering of 14M units at $6.10 per unit, each consisting of a common share and one warrant to purchase one-half of a share.Each two warrants will have an exercise price of $6.59 per Class A ordinary share and will expire 5 years from issuance.Gross proceeds expected to be $85.4M.The company says it intends to use the net proceeds primarily for expansion of its cryptocurrency mining business as well as establishment and operation of cryptocurrency mining farms, exchange platforms and general corporate purposes.The offering is expected to close on April 6, 2021.Stock -15% premarket

For further details see:

Ebang International prices ~$85M follow-on offering