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Author: Admin | 2025-04-28
, /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced the closing of its registered direct offering previously announced on August 16, 2022, with certain institutional investors for the purchase and sale of 15,566,665 of the Company's 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, at a combined purchase price of US$0.60 per ADS and associated warrants, in a registered direct offering. Each ADS represents ten (10) Class A ordinary shares, par value US$0.00005 per share, of BIT Mining.Revere Securities LLC acted as the exclusive placement agent for the offering.The Series A Warrants have an exercise price of US$0.66 per ADS, are exercisable immediately and expire five years from the date of issuance. The Series B Warrants have an exercise price of US$0.60 per ADS, are exercisable immediately and expire two and a half years from the date of issuance.The gross proceeds from the offering (without taking into account any proceeds from any future exercises of warrants issued), before deducting the placement agent's fees and other estimated offering expenses payable by the Company were approximately US$9.3 million. The Company intends to use the net proceeds of the registered direct offering to invest in mining machines, expand infrastructure, improve working capital position and invest in new business opportunities.The securities described above were offered by BIT Mining pursuant to a "shelf" registration statement on Form F-3 (File No. 333-258329) originally filed with the U.S. Securities and Exchange Commission (the "SEC") on July 30, 2021 and declared effective by the SEC on May 17, 2022. The offering of such securities was made only by means of a prospectus, including a prospectus
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