New YorkJune 30, 2022/ PR Newswire /-- Wantong Securities, a member of the US Financial Regulatory Authority and SIPC, an investment bank and securities broker and dealer providing full licensing services, announced today that it has fully exercised the underwriters' over-allotment right granted by its client Bit Origin Ltd ("Company", NASDAQ: BTOG) to issue an additional 1470588 common shares at a price of US $0.51 per common share. An additional amount of approximately $750000 was raised (without deducting underwriter discounts and issuance fees).
Without deducting underwriter discounts and issuing fees, after all the underwriters exercised the over-allotment right, the company issued a total of 11274510 common shares, raising a total of about $5.75 million.
The company plans to use the proceeds from this issue for working capital and general commercial purposes.
Wantong Securities (Univest Securities, LLC) serves as the exclusive bookkeeper of the offering. Ortoli Rosenstadt LLP acts as the issuer's lawyer, and Hunter Taubman Fischer & Li LLC acts as the underwriter lawyer.
The sale of common shares is based on the listing registration report on Fmur3 (record No. 333-238700), which was previously filed with the U.S. Securities and Exchange Commission ("SEC") on May 26, 2020 and came into effect on July 7, 2020. This offering is only in the form of a prospectus. The prospectus supplemental documents and accompanying prospectus relating to the offering and describing its terms were submitted to SEC on June 7, 2022. An electronic copy of the prospectus for the offering can be downloaded from SEC's website www.sec.gov, or obtained by contacting Univest Securities, LLC, and sent to info@univest.us or to: Univest Securities, LLC, 75 Rockefeller Plaza, Suite 1838New York, NY10019 .
This press release does not constitute an offer to sell or an invitation to buy the securities described in this document, nor does it exist to sell such securities in any state or jurisdiction in which the offer is made. Prior to registration or qualification under the securities laws of the state or jurisdiction, any such offer, invitation to offer or sale of securities as aforesaid shall be unlawful.
About American Wantong Securities
Univest Securities, LLC, registered with FINRA since 1994, provides a wide range of financial services to institutional and retail clients around the world, including brokerage and enforcement services, sales and trading, market-making, investment banking and consulting, and wealth management. It is committed to providing value-added services to customers and is committed to establishing long-term relationships with customers. For more information, visit:.
Forward-looking statement
This press release contains1995Forward-looking statements as defined in the Private Securities Litigation Reform Act of 2008.Forward-looking statements include statements relating to plans, objectives, strategies, future events or performance, as well as basic assumptions and other statements that differ from statements of historical facts. These statements are subject to uncertainties and risks, including, but not limited to, demand and acceptance of products and services, technological changes, economic conditions, competition and pricing, government regulations and company filings with the Securities and Exchange Commission (SEC) other risks contained in the submitted report. All these forward-looking statements, whether written or oral, whether made by the Company or Wantong Securities, are expressly subject to this warning statement and any other warning statements accompanying the forward-looking statement. In addition, the Company and the placing Agent undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this announcement.
For more information, please contact:
Univest Securities, LLC
Wantong Securities of America
Guo YiEdric Guo
Chief executive officer
75 Rockefeller Plaza, Suite 1838
New York, NY10019
Tel: (212) 343-8888
Email: info@univest.us