Insider Brief
- Mercurity Fintech Holding Inc. closed a $10 million PIPE financing at market price, selling 1.47 million shares to an institutional investor to fund strategic initiatives, including AI hardware intelligent manufacturing and advanced liquid cooling solutions.
- The proceeds will enhance AI-driven infrastructure efficiency, support ongoing operations, and align with the company’s vision to integrate innovative technologies into its fintech and technology services portfolio.
- CEO Shi Qiu highlighted the strong institutional backing as a vote of confidence, reinforcing the company’s commitment to shareholder value and advancing AI-powered industry solutions.
PRESS RELEASE — Mercurity Fintech Holding Inc. (the “Company,” “we,” “us,” “our company,” or “MFH”) (Nasdaq: MFH), a digital fintech group, is pleased to announce the closing of a private investment in public equity (the “PIPE”) financing. On December 19, 2024, the Company entered into a securities purchase agreement and priced the PIPE offering, pursuant to which it sold an aggregate of 1,470,000 ordinary shares to one institutional investor at a price of US$6.81 per share. The financing is priced at-the-market under Nasdaq rules, representing 100% of the closing price of the Company’s shares on the last trading day prior to the agreement. The offering resulted in total gross proceeds of approximately US$10 million (“Gross Proceeds”), before deducting fees and offering expenses payable by the Company.
The Company has successfully closed the PIPE financing and received the proceeds on December 23, 2024.The Company intends to use the net proceeds derived from the PIPE to support its strategic initiatives, including recent investments in AI hardware intelligent manufacturing and the development of advanced liquid cooling solutions. These technologies will enhance the efficiency and sustainability of AI-driven infrastructure, aligning with the Company’s broader vision to integrate innovative solutions into its fintech and technology services portfolio. Additionally, the proceeds will supplement ongoing operating expenses and reinforce the commitment to delivering shareholder value through sustainable growth.
The securities described above were sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements.
Shi Qiu, CEO of MFH, commented on this significant development, stating, “We’re thrilled with the strong institutional backing shown in this latest PIPE offering. Having an investor come in at full market price speaks volumes about the confidence in our direction. This funding will not only strengthen our day-to-day operations but also allow us to scale our initiatives in AI hardware intelligent manufacturing and liquid cooling solutions. These advancements are designed to help us keep pace with technological innovation, enabling us to serve the rapidly evolving demands of AI-powered industries. Our team is both energized and grateful by this vote of confidence, and we’re more committed than ever to delivering value to our shareholders.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Mercurity Fintech Holding Inc.
Mercurity Fintech Holding Inc. is a digital fintech company with subsidiaries specializing in distributed computing and digital consultation across North America and the Asia-Pacific region. Our focus is on delivering innovative financial solutions while adhering to principles of compliance, professionalism, and operational efficiency. Our aim is to contribute to the evolution of digital finance by providing secure and innovative financial services to individuals and businesses. And our dedication to compliance, professionalism, and operational excellence ensures that we remain a trusted partner in the rapidly transforming financial landscape. For more information, please visit the Company’s website at https://mercurityfintech.com.
