Ebang International Announces Closing of Follow-up Public Offering


HANGZHOU, China, April 6, 2021 (GLOBE NEWSWIRE) – Ebang International Holdings Inc. (Nasdaq: EBON, the “Company”, “we” or “our”), a blockchain technology company in the global market, announced today the closing of its previously announced best efforts follow-up public offering for the sale of 14 million units offered for sale by the Company, at a purchase price of US $ 6.10 per unit, for aggregate gross revenue of approximately US $ $ 85.4 million, pursuant to the terms of a Securities Purchase Agreement entered into by the Company and certain institutional investors, dated March 31, 2021 (the “Offer”). Each unit consists of one Class A common share and a guarantee to purchase half of a Class A common share of the Company. Every two warrants have an exercise price of US $ 6.59 per Class A common share. The units, warrants and Class A common shares underlying the units and warrants have been registered in accordance with a declared registration statement. effective by the United States Securities and Exchange Commission (the “SEC”) on March 31, 2021.

Univest Securities, LLC, as representative, and Lake Street Capital Markets, LLC, acted as placement agents in connection with the Offering, pursuant to a Placement Agent Agreement entered into by the Company and each of the placement agents, with Date of March 31, 2021.

The Company intends to use the net proceeds from the offering primarily for the expansion of its cryptocurrency mining business, as well as for the establishment and operation of cryptocurrency mining farms, the establishment and operation of cryptocurrency exchange platforms, and purposes general corporate, which may include working capital and other needs. corporate uses.

The units were offered pursuant to the Company’s registration statement on Form F-1, which was filed with the SEC on March 26, 2021 and became effective on March 31, 2021. Units may only be offered through a prospectus that is part of the current registration statement. Copies of the final prospectus can be obtained from the SEC’s website at http://www.sec.gov. Electronic copies of the prospectus may also be obtained by contacting Univest Securities, LLC at 375 Park Ave # 1502, New York, NY 10152, by phone (212) 343-8888 or by email [email protected].

This press release will not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale is illegal prior to registration or qualification under the laws of securities of that state or jurisdiction.

This press release contains information regarding the pending unit offering and there can be no guarantee that the offering will be completed.

About Ebang International Holdings Inc.

Ebang International Holdings Inc. is a blockchain technology company with strong application-specific integrated circuit (ASIC) chip design capabilities. With years of industry experience and ASIC chip design expertise, it has become a leading producer of bitcoin mining machines in the global market with constant access to wafer casting capacity. With its entities licensed or registered in various jurisdictions, the Company seeks to launch a professional, convenient and innovative digital asset financial services platform to expand up and down the value chain of the blockchain and cryptocurrency industry. . For more information please visit https://ir.ebang.com.cn/.

Safe harbor declaration

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the US Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the company’s development plans and business outlook, which can be identified by terminology such as “may”, “will”, “expects”, “anticipates”, “aims”, “potential”, “future “,” intends “,” plans “,” believe “,” estimate “,” continue “,” probably “and other similar expressions. Such statements are not historical facts and are based on the Company’s current beliefs, plans and expectations, and current market and operating conditions. Forward-looking statements involve known or unknown inherent risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the actual results, performance and achievements of the Company materially differ from the contents. in any forward-looking statements. More information about these and other risks, uncertainties or factors is included in the Company’s filings with the US Securities and Exchange Commission. These forward-looking statements are made only as of the date indicated, and the Company assumes no obligation to update or revise the information contained in the forward-looking statements as a result of new information, future events, or otherwise, except as required by the application. . law.

Investor Relations Contact

For investor and media inquiries, please contact:

Ebang International Holdings Inc.
Email: [email protected]

Ascent Investor Relations LLC
Ms. Tina Xiao
Tel: (917) 609-0333
Email: [email protected]

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