Mercurity Fintech Holding Inc. (MFH) stock prices were up by 12.09% as of the market closing on October 19th 2021. This brought the price per share up to USD$3.06. Subsequent aftermarket trading saw the stock fall by 5.23%, bringing it down to USD$2.90.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Private Purchase Agreement
October 19th 2021 saw MFH stock announce having entered into a purchase agreement with investors. The fintech company that is powered by blockchain and provides services including asset digitization and cross-border remittance technology support will generate aggregate gross proceeds in the amount of roughly USD$5 million. The transaction will be settled in the form of USDC. As per the agreement, the company will issue up to 57,428,570 ordinary shares of its common stock in private placements. The offering will also include warrants to purchase the same number of ordinary shares of common stock at the same price. Both shares and warrants for shares will have a purchase price of USD$0.00875.
Details of the Transaction
MFH stock’s American Depositary Shares (ADSs) are listed on the Nasdaq Capital Market, with each ADS representing 360 ordinary shares. The company expects to use the net proceeds generated from the offering for general corporate purposes. These include, but are not limited to, the purchase of Bitcoin mining hardware, product development, research and development expenses and working capital. The private placements are expected to close before the end of the trading day on October 20th 2021, contingent on the satisfaction of customary closing condition. Investors involved in the offering have agreed to a contractual lock-up restriction of their purchased shares pending acquisition in the transaction for 180 days after the closing.
About MFH Stock
The fintech company is powered by blockchain and engages in digital asset trading, asset digitization, cross border remittance, and other services. MTH stock aims to offer a trusted platform that will facilitate users access to a broader crypto-economy. This includes Bitcoin mining, digital currency investment, and trading facilitated by the provision of compliant, professional, and highly efficient services.
Future Outlook for MFH Stock
MFH stock is poised to capitalize on the expanded scope of opportunities presented to it as a result of its influx of capital generated from the offering. The company is keen to push for the consolidation and expansion of its market footprint in the burgeoning financial technology market space. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value over the long term.