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500.com Limited Announces Acquisition of a 7-nanometer Mining Machine Manufacturer and New Issuance of Preference Shares
April 5, 2021 GMT
SHENZHEN, China, April 5, 2021 /PRNewswire/ 500.com Limited (NYSE: WBAI) (“500.com” or the “Company”), a cryptocurrency mining enterprise, today announced that it has entered into a share exchange agreement (“Share Exchange Agreement”) with shareholders (the “Selling Shareholders”) of Bee Computing (HK) Limited (“Bee Computing”). Pursuant to the Share Exchange Agreement, the Company expects to issue an aggregate of 45,825,530 of its Class A ordinary shares valued at US$2.182 per share, corresponding to US$21.82 per American Depositary Share (“ADS”) (based on the ratio of ten ordinary shares per ADS), representing a consideration of US$100 million in aggregate, to the Selling Shareholders and research and development team members
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SHENZHEN, China, March 15, 2021 /PRNewswire/ 500.com Limited (NYSE: WBAI) ( 500.com or the Company ), a cryptocurrency mining enterprise in China, today announced that it has completed its acquisition of bitcoin mining machines owned by certain non-U.S. persons in exchange for an aggregate of 11,882,860 newly-issued Class A ordinary shares valued at US$1.21 per share, corresponding to US$12.10 per American Depositary Share ( ADS ) (based on the ratio of ten ordinary shares per ADS), the closing trading price of the Company s ADSs on January 8, 2021. This transaction was previously announced on January 11, 2021.
The bitcoin mining machines acquired in this transaction (the Bitcoin Mining Machines ) include such models as the S17, T17, M20s and S9. The theoretical maximum total hash rate capacity of the Bitcoin Mining Machines is estimated to be approximately 918.5 PH/s. Once fully deployed, the Company estimates that all of its bitc
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SHENZHEN, China, March 8, 2021 /PRNewswire/ 500.com Limited (NYSE: WBAI) ( 500.com or the Company ), an enterprise committed to developing cryptocurrency mining businesses, today announced that a majority of its Board of Directors (the Board ) resolved to change the Company s (i) English name to BIT Mining Limited (the English Name Change ), subject to shareholder approval being received for the English Name Change, (ii) Chinese business name to 比特矿业 , and (iii) ticker symbol to BTCM.
Pursuant to the Company s Second Amended and Restated Articles of Association, the English Name Change needs to be adopted by a Special Resolution at a general meeting of shareholders. For the purpose of seeking such shareholder approval, today a majority of the Board also resolved to call an extraordinary general meeting of shareholders (the EGM ) to consider the English Name Change. The Company intends to announce and publish materials for
500 com Limited Announces Board Approval of Changes to Company Names and Ticker Symbol, as well as Calling of Extraordinary General Meeting prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.