Deals 06/26/2020

Loop Capital Markets serves as joint bookrunner on the $101 million initial public offering of Ebang International Holdings Inc.

On June 26, 2020, Ebang International, an ASIC chip design company and manufacturer of high-performance Bitcoin mining machines, raised $101 million in an initial public offering by issuing 19.26 million Class A ordinary shares.  Loop Capital Markets served as a joint bookrunner on the initial public offering.

The company intends to use the net proceeds of the offering for expansion of overseas businesses and new businesses, development and introduction of new mining machines, corporate branding and marketing activities, and general corporate purposes.