NetworkNewsBreaks – Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) Announces $5.66M Registered Direct Offering
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, today announced its entry into a securities purchase agreement with two institutional investors, providing for the purchase and sale of 6,290,000 of its ordinary shares, each at a price of $0.90, in a registered direct offering. Blue Hat expects to secure total gross proceeds of $5,661,000 upon closing of the offering. In addition, the company has agreed to issue to the investors unregistered warrants to purchase up to 4,088,500 ordinary shares in a concurrent private placement. The warrants, with an exercise price of $1.12 per share, will be exercisable immediately and expire three years following the date of issuance. FT Global Capital Inc. is acting as the sole placement agent in this offering. Subject to customary conditions, the registered direct offering and private placement are expected to close on or about May 10, 2021.
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