500.com Ltd. (WBAI) Mentioned Cautiously at Muddy Waters
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500.com Entered into an Agreement to Acquire Bitcoin Mining Machines
January 11, 2021 7:12 AM ESTSHENZHEN, China, Jan. 11, 2021 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), today announced that it has entered into a definitive purchase agreement (the "Agreement") with certain non-U.S. persons (the "Sellers") pursuant to which the Company expects to issue approximately US$14.4 million worth of its Class A ordinary shares as consideration to acquire bitcoin mining machines owned by the Sellers.
The Company expects to issue 11,882,860 newly-issued Class A ordinary shares valued at US$1.21 per share, corresponding to US$12.10 per... More
