The Chinese miner manufacturer Ebang International Holdings объявил the closing of an additional public offering with gross proceeds of about $70 million.
The company sold 14 million units at a price of $5. Each unit consisted of one Class A ordinary share and a warrant to purchase half of a similar security.
According to the statement, the purchasers of the securities in the follow-on offering were institutional investors.
The funds raised are intended to be used primarily for the development, production and sale of ASIC miners, as well as the creation and operation of mining farms.
In July 2020, Ebang conducted an IPO on Nasdaq. The company raised $101 million by selling 19.3 million shares at $5.23.
As of writing, Ebang was trading at $11.85 in pre-market trading.
Data: MarketWatch.
As Bitcoin rose above the $50,000 level, mining stocks surged.
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