IPO of Bitcoin Miner Maker Ebang (EBON) Opens 12% Lower

Today's IPO for Ebang International Holdings (NASDAQ: EBON) opened for trading at $4.60 after pricing 19,264,337 Class A ordinary shares at US$5.23 per Class A ordinary share.

The Company has granted the underwriters the right to purchase up to 2,889,650 additional Class A ordinary shares within 30 days from the date of the final prospectus at the initial public offering price.

AMTD Global Markets Limited, Loop Capital Markets LLC and Prime Number Capital LLC are acting as joint bookrunners of this offering.

Ebang International Holdings Inc. is a leading application-specific integrated circuit ASIC chip design company and a leading manufacturer of high-performance Bitcoin mining machines. The Company has strong ASIC chip design capability underpinned by nearly a decade of industry experience and expertise in the telecommunications business. The Company is one of the few fabless integrated circuit (“IC”) design companies with the advanced technology to independently design ASIC chips, established access to third-party wafer foundry capacity and a proven in-house capability to produce blockchain and telecommunications products*. The Company was also a leading Bitcoin mining machine producer in the global market in terms of computing power sold in 2019*. For more information, please visit https://ir.ebang.com.cn/.

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