Skip to main content

CryptoNewsBreaks — BIT Mining Limited (NYSE: BTCM) Closes on Registered Direct Offering, Resulting in $9.3M

BIT Mining (NYSE: BTCM), a leading technology-driven cryptocurrency mining company, announced the closing of its registered direct offering with certain institutional investors. The company had announced the offering earlier this week. According to the announcement, the closed offering constitutes the purchase and sale of 15,566,665 of BTCM American Depositary shares (“ADSs”), Series A warrants to purchase up to an aggregate of 15,566,665 ADSs and Series B warrants to purchase up to an aggregate of 15,566,665 ADSs — all at a combined purchase price of $0.60 per ADS and associated warrants. The announcement noted that the Series A warrants, which expire five years from the date of issuance, have an exercise price of $0.66 each and are exercisable immediately, while the Series B warrants have an exercise price of $0.60 per ADS, are also exercisable immediately, and expire two and a half years from the date of issuance. Gross proceeds from the offering will reach an estimated $9.3 million, before standard deductions, and Bit Mining anticipates using the net proceeds to invest in mining machines, expand infrastructure, improve working capital position and invest in new business opportunities. According to the announcement, Revere Securities LLC acted as the exclusive placement agent for the offering.

To view the full press release, visit https://ccw.fm/Aipcb

About BIT Mining Limited

BIT Mining is a leading technology-driven cryptocurrency mining company, with a long-term strategy to create value across the cryptocurrency industry. Its business covers cryptocurrency mining, mining pool, data-center operation. The company owns the world’s top blockchain browser — BTC.com — and the comprehensive mining pool business operated under BTC.com, providing multicurrency mining services including BTC, ETH and LTC. The company also owns a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, enabling the Company’s self-sufficiency through vertical integration with its supply chain. For further information about the company, visit www.BTCM.group.

About CryptoCurrencyWire (“CCW”)

CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

To receive instant SMS alerts, text “CRYPTO” to 844-397-5787 (U.S. Mobile Phones Only)

CryptoCurrency News Wire is where News, content and information converge via Crypto.

For more information, please visit https://www.CryptoCurrencyWire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire (CCW) website applicable to all content provided by CCW, wherever published or re-published: http://CCW.fm/Disclaimer

CryptoCurrencyWire (CCW)
New York, New York
www.CryptoCurrencyWire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com

CryptoCurrencyWire is part of the InvestorBrandNetwork

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.