Blue Hat Interactive Entertainment Technology Announces Proposed Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares

XIAMEN, China, June 17, 2022 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology ("BHAT" or the "Company") (NASDAQ:BHAT), a producer, developer and operator of augmented reality interactive entertainment games, toys and educational materials in China, today announced that it intends to offer in an underwritten public offering its ordinary shares and pre-funded warrants to purchase ordinary shares. The pre-funded warrants shall be offered at the same price per share as the ordinary shares, less the $0.01 per share exercise price of each pre-funded warrant. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which include, but are not limited to, advancing and diversifying the company’s product portfolio, and general and administrative expenses. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The underwriter will receive an overallotment option to purchase an additional 15% of the number of ordinary shares and/or pre-funded warrants sold for 45 days following the closing.