Mercurity Fintech Holding Inc. Ordinary Shares - MFH STOCK NEWS

On September 8, 2021, Mercurity Fintech Holding Inc. (MFH) announced a private placement involving three investors who will acquire 571,428,570 ordinary shares and warrants for a total of $5 million, payable in 105.2430 bitcoins. Each ADS on Nasdaq represents 360 ordinary shares. This transaction is subject to customary closing conditions and is expected to close in September 2021. The investors have agreed to a 180-day lock-up on their shares post-closing. The securities issuance is exempt from registration under the Securities Act of 1933.

On August 25, 2021, Mercurity Fintech Holding Inc. (MFH) announced significant leadership changes. Liu Hao resigned as director, Co-CEO, and Acting CFO effective August 24, 2021. Zhu Wei has been appointed as Co-CEO, Acting CFO, and director. Three new board members, Deng Huahui, Li Minghao, and Ding Laibin, were also appointed. Zhu Wei brings extensive experience in fintech and blockchain, previously serving as CEO of Wan Xiang International Exchange. The company expresses gratitude to Liu Hao for his contributions and welcomes the new leadership team.

Mercurity Fintech Holding Inc. (MFH) announced the resignation of Miss Xiaoyu Li from its Board of Directors, effective August 18, 2021, due to personal reasons. In statements from Co-CEOs Miss Alva Zhou and Mr. Liu Hao, the company expressed gratitude for Miss Li's contributions. The press release serves as a formal notification of her exit and highlights the company's commitment to transparency. Forward-looking statements are included, emphasizing the inherent risks and uncertainties in the market.

Mercurity Fintech Holding Inc. (MFH) announced the resignation of Mr. Longming Wu from its Board of Directors, effective July 7, 2021. The resignation was due to personal reasons. Alva Zhou, Chairperson and Co-CEO, and Liu Hao, Co-CEO and Board Director, expressed their gratitude for Mr. Wu's contributions to the company. This leadership change may prompt discussions regarding the continuity of the company's strategic direction.

Mercurity Fintech Holding Inc. (MFH) reported a Q1 2021 revenue of $81 thousand, a significant drop from $1,392 thousand in Q1 2020. The net loss for Q1 2021 was $4,554 thousand, down from a profit of $1,068 thousand in the previous year. General and administrative expenses soared to $4,601 thousand, primarily due to increased stock-based compensation. The company is navigating a business transition and has suspended guidance for Q2 2021 due to ongoing uncertainties.

Mercurity Fintech Holding Inc. (MFH) announced the appointment of Mr. Hao Liu as co-Chief Executive Officer, effective May 1, 2021. Currently a Director, Liu is the founder of Columbus Fintech LTD and co-Founder and CEO of Jeethen Capital. He brings extensive expertise in financial technology and blockchain applications, previously developing cross-chain clearing technology. Chairperson Alva Zhou expressed strong confidence in Liu's leadership to drive the company's growth and innovation in the blockchain sector.

Mercurity Fintech Holding Inc. (MFH) announced a private placement involving three investors: Kaiyu Chen, Baibang Technology Co., Ltd., and Le Chai Wow Group Holding Ltd. They will purchase 537,143,470 ordinary shares and warrants for a total of US$10,000,000, settled in 172.9354 bitcoins. The transaction is expected to close soon and includes a 180-day lock-up restriction on the shares. This issuance is exempt from registration under the Securities Act of 1933, complying with Regulation S.

On March 4, 2021, Mercurity Fintech Holding Inc. (MFH) announced the appointment of Cong Huang as an Independent Director and Liu Hao as a Director to its Board. Cong Huang, with a PhD from Yale, has a strong background in fintech, having worked at Goldman Sachs and McKinsey, and most recently served as CEO of Xiaoying Tech. Liu Hao is a fintech expert and founder of Columbus Fintech, recognized for his work in AI and blockchain applications. The additions aim to enhance the company's capabilities in decentralized trading systems and blockchain technology.

Mercurity Fintech Holding Inc. (Nasdaq: MFH) recently held its 2021 Extraordinary General Meeting on February 5, 2021, in Beijing. Key outcomes included an increase in authorized share capital from US$50,000 to US$250,000 and the re-election of several Board members, including Hua Zhou as Chairperson. This capital increase may position the company for future growth, yet it could also lead to potential dilution of existing shares.