Blue Hat Interactive Entertainment Technology (BHAT) said late Thursday it priced an underwritten public offering of 32 million units at $0.20 per unit, for gross proceeds of about $6.4 million.
Each unit includes one ordinary share and one warrant to purchase an ordinary share, the company said, adding that the warrants are exercisable immediately at $0.20 per share and expire one year from issuance.
The company said it also granted the underwriter a 15-day option to buy up to 4.8 million additional units at the offering price, less discounts and commissions.
Proceeds from the offering, expected to close Monday, will be used for working capital and general corporate purposes, it added.
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