Mercurity Fintech Holding Inc. Announced Closing of $3.15 Million Private Investment in Public Equity (PIPE) Financing
17 Novembre 2022 - 2:30PM
Mercurity Fintech Holding Inc. (the "Company" or "MFH")
(Nasdaq: MFH), a digital fintech group powered by
blockchain technology, today announced that it has closed the
Private Investment in Public Equity (“PIPE”) financing pursuant to
the Securities Purchase Agreement (the “SPA”) and Warrant (each, a
“Warrant” and collectively, the “Warrants”) with certain non-U.S.
investors for gross proceeds of $3.15 million (the “Proceeds”). Net
proceeds from the PIPE financing are expected to be used to advance
the Company’s business development activities for working capital
and other general corporate purposes. Among other purposes, the
Company intends to use part of the Proceeds to grow its
cryptocurrency consultation services in the U.S., including
obtaining the “BitLicense” from New York State Department of
Financial Services for digital currency related activities,
although the Company cannot provide any assurance on actually
obtaining the “BitLicense” in the near future or at all. “We
believe that only by developing our business in compliance with the
U.S. laws and regulations will we be able to have a sustainable and
promising growth,” said the Chief Executive Officer of the Company
Shi Qiu.
Pursuant to the SPA and the Warrants, the
Company shall issue an aggregate of 2,423,076,922 units at a
purchase price of $0.0013 per unit. Each unit shall consist of one
ordinary share and three warrants, with each warrant entitling
the investor to purchase one ordinary share at the exercise price
of USD$ 1/180th per ordinary share subject to certain adjustments
and conditions set forth therein. The warrants shall have a term of
three years from the issuance date. In connection with the
consummation of the PIPE offering, the Company shall issue
108,000,000 restricted ordinary shares with par value $0.00001 per
share to its financial advisor as compensation for the advisor’s
business and financial advisory services.
The securities described above were sold in a
private placement and have not been registered under the Securities
Act of 1933, as amended, and may not be offered or sold in the
United States absent registration with the Securities and Exchange
Commission (the “SEC”) or an applicable exemption from such
registration requirements. The securities were offered only to
non-U.S. investors in compliance with Regulation S.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
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 any such state or
jurisdiction.
About Mercurity Fintech Holding Inc.
Limited
Mercurity Fintech Holding Inc. is a digital
fintech group powered by blockchain technology. The Company’s
primary business scope includes digital asset trading, asset
digitization, cross-border remittance and other services, providing
compliant, professional, and highly efficient digital financial
services to its customers. The Company recently began to narrow in
on Bitcoin mining, digital currency investment and trading, and
other related fields. This shift has enabled the company to deepen
its involvement in all aspects of the blockchain industry, from
production to circulation.
Forward-Looking Statements
This announcement contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. 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. 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.
For more information, please contact:
International Elite Capital Inc. Vicky
Chueng Tel: +1(646)
866-7989 Email: mfhfintech@iecapitalusa.com
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