Baosheng Media Group Holdings Limited to Receive US$10 Million Investment
18 Marzo 2021 - 1:30PM
Baosheng Media Group Holdings Limited (the “Company”) (Nasdaq:
BAOS), a China-based online marketing solution provider, today
announced the Company has entered into a securities purchase
agreement (the “Securities Purchase Agreement”) with two investors,
including a wholly-owned subsidiary of Ebang International Holdings
Inc. (Nasdaq: EBON) (“Ebang International”) for an investment of
US$10 million.
Pursuant to the Securities Purchase Agreement,
the Company has agreed to issue an aggregate of 1,960,784 units to
the investors, with each unit consisting of one ordinary share of
the Company, par value $0.0005 per share (the “Ordinary Shares”)
and a warrant to purchase one half of one Ordinary Share at an
exercise price of $5.61.
The Company intends to use the net proceeds it
receives from the investment for blockchain-based marketing
activities and cryptocurrency associated business.
The Company plans to accept Bitcoin and other
cryptocurrencies as the transaction approach for future advertising
business, participate in the settlement and clearing process of
cryptocurrencies, invest and explore opportunities in
cryptocurrencies and other areas of the digital economy, implement
the application of blockchain technology in the field of digital
marketing, and create a potential real-time blockchain-based
advertising exchange or trading platform.
Ms. Wenxiu Zhong, Chairwoman and CEO of the
Company, commented, “We are excited about Ebang International’s
investment in our business, Ebang International has extensive
industry experience in the blockchain field. As a prominent
blockchain company, Ebang International has strong technologies and
market competitiveness in the fields of data communication,
cryptocurrencies, and ASIC chip designing. It can provide us with
blockchain technology support to apply blockchain in digital
marketing. We expect to have comprehensive and in-depth cooperation
with Ebang International in the future.”
This press release does not constitute an offer
to sell, or the solicitation of an offer to buy any of the
Company’s securities, nor shall such securities be offered or sold
in the United States absent registration or an applicable exemption
from registration, nor shall there be any offer, solicitation or
sale of any of the Company’s securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Baosheng Media Group Holdings
Limited
Baosheng Media Group Holdings Limited,
headquartered in Beijing, China, is an online marketing solution
provider in China. The Company advises advertisers on online
marketing strategies, offers value-added advertising optimization
services and facilitates the deployment of online ads of various
forms such as search ads, in-feed ads, mobile app ads and social
media marketing ads. The Company is dedicated to helping its
advertiser clients manage their online marketing activities with a
view to achieving their business goals. For more information, visit
the company’s website
at http://ir.bsacme.com/.
Forward-Looking Statements
All statements other than statements of
historical fact in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs, including the expectation that the Offering will be
successfully completed. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company’s registration statement and in its
other filings with the SEC.
For more information, please contact:
Ascent Investors Relations LLC Tina
Xiao President Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com
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