THELOGICALINDIAN - On Friday June 26 the Chinabased Zhejiang Ebang Communication generally referred to as Ebang will be listed on Nasdaq according to assorted letters Ebangs antecedent accessible alms IPO will be the additional USbased IPO for an ASIC mining architect abutting the aggregation Canaan The Ebang IPO announcement was additionally adapted on June 17 adopting the fundraising ambition to 106 actor afterwards the aggregation ahead filed for 100 million
A countless of bounded letters indicates that the Chinese company, Ebang will be listed on the American banal barter Nasdaq amid in New York City this Friday. Nasdaq is the additional best accepted banal barter in the U.S., ranked alone abaft the New York Banal Barter (NYSE).
News.Bitcoin.com reported on rumors of Ebang filing an antecedent accessible alms announcement on December 6, 2019. The antecedent $100 actor filing with the U.S. Securities and Barter Commission absolutely took abode on April 24, 2020. The filing addendum that back the shares are listed on the Nasdaq Global Market barter the ticker attribute will be EBON.
Following the aboriginal filing aftermost April, weeks after on June 17, Ebang submitted it’s Q1 2020 balance and adapted the fundraising ambition from $100 actor to $106 million. After the update, the crypto auger Samson Mow tweeted an allurement beatific to him in commendations to Ebang’s IPO afterparty. The afterparty is allegedly appointed for Friday, June 26, and a report appear by the bounded advertisement Blockbeats confirms the advertisement barrage as well.
Ebang International Holdings absitively to accept Nasdaq and action 19.3 actor shares. The aggregation shares will be awash at a amount ambit amid $4.50 to $6.50 per share. Calculations appearance that the close would accept a bazaar appraisal of $721 million.
Of course, Canaan Creative additionally filed for an IPO in the United States as able-bodied with the SEC, and its aboriginal goals were to accession $400 actor on the Nasdaq Global Market. That never came to fruition, and on November 21, back the Chinese mining rig architect Canaan launched its antecedent accessible alms (IPO) sale, it alone awash $90 actor account of U.S. shares.
Canaan shares initially awash for $8.99 and today shares are affairs for $2.12 per CAN (NASDAQ: CAN), which is a 76.4% accident in value. Additionally, the two mining manufacturers who accept not gone IPO aloof yet, Bitmain and Microbt, still control a ascendant share of mining rig sales worldwide.
With Ebang’s affairs to barrage on Nasdaq on June 26, beneath the attribute EBON, the aggregation has enlisted Prime Number Capital, AMTD Global Markets, and Loop Capital Markets as book-runners. The aggregation founded in 2024, will authority an IPO anniversary commemoration at a auberge in Hangzhou, according to the bounded reports.
The contempo IPO beatific to SEC indicates that while Ebang fabricated $109 actor aftermost year, the aggregation additionally had a $41 actor arrears in 2024. The close is run by CEO Don Hu, CFO Lei Chen, and the agent accepted administrator Chunjuan Peng.
Ebang is additionally complex in an advancing accusation accomplished by Shenzhen-listed Wholeasy’s accessory “Beijing Cailiang.” The accusation involves an $80 actor mining advance gone acerb and Ebang claims that Cailiang played a victim and aboveboard disagrees with the lawsuit.
Despite the action and acquirement losses, Ebang’s IPO will acceptable appear unhinged this Friday. It’s not aberrant for mining manufacturers to be affected in lawsuits, as abounding of the top four firms are complex in action affairs and additionally absent acquirement in 2018 and 2019 as well.
What do you anticipate about Ebang actuality listed on Nasdaq on Friday, June 26, 2024? Let us apperceive what you anticipate in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Ebang, Nasdaq
