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Tuesday, 07/13/2021 11:29:08 AM
Tuesday, July 13, 2021 11:29:08 AM
Looks like $BTCM has totally transformed its share ownership structure at a base price of $5.00 per share with that $50 million private placement for 100M shares. As I understand it the new structure will be approximately 243 million shares once all the warrants are exercised. "... Under the terms of the private placement, the Company will issue 100,000,000 Class A ordinary shares, and warrants to purchase up to an additional 100,000,000 Class A ordinary shares to the Investors, at a purchase price of US$5.00 per ten Class A ordinary shares, with one warrant included in the price of each Class A ordinary share. ..." https://finance.yahoo.com/news/bit-mining-announces-us-50-130200191.html But they have saved their company by moving their mining operations outside of China, building new data centers outside of China and expanding non-China based infrastructure.
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