Blue Hat Interactive Entertainment Technology (BHAT) shares are falling more than 41 percent on Monday after announcing securities purchase agreements with several institutional investors to purchase an aggregate of 55,200,000 Ordinary Shares in a registered direct offering at $0.08 per share.
The gross proceeds are estimated to be approximately $4.4 million and the offering is expected to close on or about January 7, 2025.
Maxim Group LLC is acting as the sole placement agent in connection with the offering.
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