Mercurity Fintech Holding Inc. Announced Third Private Investment in Public Equity Financing of $5 Million
28 Décembre 2022 - 12:30AM
Mercurity Fintech Holding Inc. (the “Company,” “we,” “us,”
“our company,” or “MFH”) (Nasdaq: MFH), a digital fintech
group powered by blockchain technology, today announced that on
December 23, 2022, in connection with its private investment in
public equity financing (the “PIPE”), it entered into a Securities
Purchase Agreement (the “SPA”) with
an accredited non-U.S. investor to offer and sell the
Company’s units, each consisting of one ordinary share and three
Warrants (each, a “Warrant” and collectively, the “Warrants”) for
total gross proceeds of $5 million (the “Proceeds”). The closing of
this third PIPE financing together with the consummation of the
first and second PIPE financing would yield total gross proceeds of
$13.15 million invested in the Company’s shares and warrants by
third parties in the second half of 2022. The Company expects to
use the net proceeds from the three rounds of PIPE financing to
develop its Web3 and blockchain infrastructure, expand its
consultation services, and pursue the licensure for cryptocurrency
(“BitLicense”) from New York State Department of Financial Services
although the Company cannot provide any assurance on actually
obtaining the “BitLicense” in the near future or at all.
Pursuant to the SPA, the Company shall issue an
aggregate of 4,545,454,546 units at a purchase price of $0.00110
per unit for total gross proceeds of approximately $5,000,000. 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 $1/360th 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.
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.
“It took hundreds of years to build Wall Street,
but with crypto everything is accelerated. Despite the fluctuation
of capital markets, we plan to dedicate three years in building the
Web3 and blockchain infrastructure, and we believe that we will
prosper from our business model and steadfast devotion to this
exciting and ever-expanding space,” said Shi Qiu, the Company’s
Chief Executive Officer. “We are proud to announce this most recent
PIPE financing together with the consummation of the first two
rounds of PIPE financing totaling $13.15 million in the second half
of 2022. We would like to thank our investors for sharing our
vision of the future and supporting our company by giving us the
responsibility of building it. In early 2023, the Company plans to
release a detailed growth strategy to the public to outline the
Company’s strategic vision for the next three years.”
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
Mercurity Fintech (NASDAQ:MFH)
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