500.com Limited Announces Acquisition of BTC.com Businesses
500. COM LTD (WBAI)
US:NYSE Investor Relations:
500.investorroom.com
Company Research
Source: PR Newswire
SHENZHEN, China, Feb. 16, 2021 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), today announced that it has entered into a share exchange agreement (the "Share Exchange Agreement") with Blockchain Alliance Technologies Holding Company ("Blockchain Alliance"), a Cayman Islands company and a "Non-U.S. Person" as defined in Regulation S of the Securities Act of 1933, as amended, pursuant to which to Company has agreed to issue an aggregate of 44,353,435 Class A ordinary shares of par value US$0.00005 per share of the Company (the "Class A Ordinary Shares") to Blockchain Alliance at the first closing, which shares represent approximately 10% of the Company's outstanding shares as of January 31, 2021, in exchange for the entire outstanding share capital of Blockchain Alliance Technologies Limited held by Blockchain Alliance after the reorganization. The first closing of the transactions contemplated by the Share Exchange Agreement (the "Transactions") is subject t
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