Univest Securities, LLC Announces Closing of Follow-on Public Offering for its Client Ebang International Holdings Inc. (Nasdaq: EBON)

Univest Securities, LLC Announces Closing of Follow-on Public Offering for its Client Ebang International Holdings Inc. (Nasdaq: EBON)

News Highlights

NEW YORK, April 08, 2021 (News) — Univest Securities, LLC, a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of a previously announced best-effort follow-on public offering for the sale of 14 million units by its client Ebang International Holdings Inc. (the “Company”) (NASDAQ: EBON), a blockchain technology company in the global market, at a purchase price of US$6.10 per unit, for aggregate gross proceeds of approximately US$85.4 million, pursuant to the terms of a Securities Purchase Agreement executed by the Company and certain institutional investors, dated March 31, 2021 (the “Offering”). Each unit consists of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share of the Company at a public offering price of US$6.10 per unit. Each whole share exercisable pursuant to the warrants will have an exercise price per share at US$6.59.

Univest Securities, LLC, as representative, and Lake Street Capital Markets, LLC, served as placement agents in connection with the Offering, pursuant to a Placement Agent Agreement between the Company and Univest Securities, LLC as representative of the placement agents, dated March 31, 2021.

The Company intends to use the net proceeds from the offering primarily for expansion of its cryptocurrency mining business as well as establishment and operation of cryptocurrency mining farms, establishment and operation of cryptocurrency exchange platforms and general corporate purposes, which may include working capital needs and other corporate uses.

The units were offered pursuant to the Company’s registration statement on Form F-1, which was filed with the U.S. Securities and Exchange Commission (“SEC”) on March 26, 2021 and became effective on March 31, 2021 and by means of a prospectus forming a part of the effective registration statement. Copies of the final prospectus may be obtained at the SEC’s website at http://www.sec.gov. Electronic copies of the prospectus may also be obtained by contacting Univest Securities, LLC at 375 Park Ave #1502, New York, NY 10152, by phone (212) 343-8888 or e-mail info@univest.us.

About Univest Securities, LLC

Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, wealth management. It strives to provide clients with value-add service and focuses on building long-term relationship with its clients. For more information, please visit: www.univest.us.

About Ebang International Holdings Inc.

Ebang International Holdings Inc. is a blockchain technology company with strong application-specific integrated circuit (ASIC) chip design capability. With years of industry experience and expertise in ASIC chip design, it has become a leading bitcoin mining machine producer in the global market with steady access to wafer foundry capacity. With its licensed or registered entities in various jurisdictions, the Company seeks to launch a professional, convenient and innovative digital asset financial service platform to expand into the upstream and the downstream of blockchain and cryptocurrency industry value chain. For more information, please visit https://ir.ebang.com.cn/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Further information regarding the Offering is included in the Company’s filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Univest Securities, LLCEdric GuoExecutive Director of Investment Banking375 Park Avenue #1502New York, NY 10152Phone: (212) 343-8888Email: info@univest.us

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