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SHENZHEN, China, Feb. 23, 2021 /PRNewswire/ 500.com Limited (NYSE: WBAI) ( 500.com or the Company ), a China-based enterprise committed to developing cryptocurrency mining businesses, today announced the closing of its previously announced private placement transaction pursuant to the definitive share subscription agreement with Good Luck Information Technology Co., Limited ( Good Luck Information ) entered into on December 21, 2020. The Company has received 356.04342 Bitcoins and US$11.5 million in cash from Good Luck Information, and the Company has issued 85,572,963 newly issued Class A ordinary shares to Good Luck Information.
The 356.04342 Bitcoins is the equivalent of US$11.5 million at the Bitcoin to U.S. dollars exchange rate fixed on January 21, 2021 at US$32,326.29 to one Bitcoin.
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SHENZHEN, China, Feb. 8, 2021 /PRNewswire/ 500.com Limited (NYSE: WBAI) ( 500.com, the Company, we, us, our company, or our ), an online sports lottery service provider in China, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2020.
Announcement of Private Placement, Appointment of New Officers and Exploration of Business Opportunities in the Blockchain and Cryptocurrency Industries
On December 21, 2020, the Company announced that it had entered into a definitive share subscription agreement (the Agreement ) with Good Luck Information Technology Co., Limited ( Good Luck Information ), a company incorporated in Hong Kong, for the issuance and sale of newly issued Class A ordinary shares of the Company ( Class A Shares ).
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SHENZHEN, China, Jan. 28, 2021 /PRNewswire/ 500.com Limited (NYSE: WBAI) ( 500.com or the Company ), today announced that it has entered into a share subscription agreement (the Share Subscription Agreement ), pursuant to which it has conditionally agreed to subscribe for 169,354,839 shares of Loto Interactive Limited (HKEX: 08198) ( Loto Interactive ) at a price of HK$0.62 per share for a total consideration of approximately HK$105 million (approximately US$13.5 million) in cash (the Share Subscription ). Closing of the Share Subscription is subject to approval by independent shareholders of Loto Interactive and relevant regulatory authorities, the transactions contemplated by the Acquisition Agreement (as defined below) having become unconditional, as well as other customary conditions set out in the Share Subscription Agreement. The Company currently owns approximately 33.7% of the issued share capital of Loto Interactive. Upon comple