Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, today announced that it has closed a registered direct offering with two institutional investors for the purchase and sale of 7,160,000 of its ordinary shares. Blue Hat secured gross proceeds of $7,589,600, before deducting the placement agent’s fees and other estimated offering expenses, with each of the shares sold at a price of $1.06. The company also issued to the investors unregistered warrants to purchase up to 3,580,000 ordinary shares in a concurrent private placement. The warrants have an exercise price of $1.33 per share, will be exercisable immediately and will expire three years following the date of issuance. Blue Hat has 46,973,660 ordinary shares outstanding after the closing.
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About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games and toys with mobile-game features. The company’s entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the company’s investor relations website at www.IR.BlueHatGroup.com.
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