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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 ....

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