Ebang International (EBON) Prices 4M Unit Follow-On Offering at $5.25/Unit

Ebang International Holdings Inc. (NASDAQ: EBON), a leading Bitcoin mining machine producer in the global market in terms of computing power sold in 2019*, announced its pricing of a best-effort follow-on public offering of 4 million units at a purchase price of $5.25 per unit. Each unit consists of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share of the Company. Each two warrants will have an exercise price per share at $5.50. Those units were sold pursuant to its registration statement declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 17, 2020. The Company may hold one or more closings until the maximum numbers of units are sold or the offering is terminated. Our Class A ordinary shares are listed on the Nasdaq Global Select Market under the symbol “EBON.”

Univest Securities, LLC is acting as the exclusive placement agent for this offering.

The Company intends to use the net proceeds from the offering primarily for development and application of blockchain technology into financial services, sourcing core intellectual properties relating to its businesses, corporate branding and marketing activities, and general corporate purposes, which may include working capital needs and other corporate uses.

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