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Sino-Global Shipping America, Ltd. (NASDAQ: SINO) has announced its agreement to acquire a 60% stake in blockchain infrastructure developer Super Node LLC for an all-stock transaction worth $5 million. Super Node is based in Wilmington, Delaware, and specializes in developing decentralized applications on the CyberMiles network. CEO Lei Cao expressed that this acquisition will enhance Sino-Global's capabilities in the growing cryptocurrency market and expand opportunities in the NFT sector.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) will launch a new NFT exchange in collaboration with CyberMiles, aiming for a July 2021 launch. This platform will provide a secure environment for the creation, sale, and purchase of NFTs, enhancing connections between the digital and physical worlds. CEO Lei Cao emphasized NFTs' role in cryptocurrency adoption and the digital economy's evolution. The partnership is set to leverage CyberMiles’ blockchain expertise, ensuring continual growth and optimization of the NFT platform.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) has successfully acquired 2,783 digital currency mining servers from Hebei Yanghuai Technology Co., Ltd. for approximately RMB 30 million (USD 4.6 million). This acquisition increases their computing power to 50,440 t/s and positions Sino-Global to expand in the cryptocurrency market. The servers come with a one-year warranty, and Yanghuai will manage them during this period. CEO Lei Cao expressed confidence in leveraging their logistics experience to enhance value for shareholders.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) announced the execution of a purchase agreement for 2,783 digital currency operation servers for RMB 30 million (approximately USD 4.6 million). This acquisition aims to enhance the Company’s entry into the digital currency market, increasing its computing power to 50,440 t/s. Payment terms include an initial cash payment of RMB 6 million and a second payment of RMB 6 million, with the remaining balance paid quarterly. CEO Lei Cao expressed confidence in the venture's potential to maximize shareholder value.
Sino-Global Shipping America (NASDAQ: SINO) announced on March 2, 2021, that it will now accept Bitcoin for its shipping and logistics services. This move aligns with current digital currency trends, allowing customers to utilize various payment options. CEO Lei Cao expressed excitement over this development, emphasizing the importance of adapting to new payment networks. The company, founded in 2001 and headquartered in New York, offers a range of services, including shipping agency and inland transportation management.
Sino Global Shipping America Ltd has entered a Memorandum of Understanding with CyberMiles Foundation to explore non-fungible token (NFT) opportunities using CyberMiles' CRC-721 protocol. This partnership could leverage the growing NFT market, currently valued at approximately $250 million, by allowing enterprises and individuals to issue and trade unique digital assets. CyberMiles specializes in smart contracts optimized for e-commerce, providing a platform for decentralized applications. The agreement reflects Sino's interest in diversifying into blockchain technology as the NFT sector expands.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) has signed a Letter of Intent to acquire 51% of Inner Mongolia Nine-Chain Intelligent Big Data Park Service Co., Ltd. for approximately RMB55.2 million ($8.5 million). Nine-Chain Intelligent specializes in big data and has a strong focus on cryptocurrency mining, operating a computing power center for Bitcoin and Ethereum. The acquisition aims to enhance Sino-Global's business in the cryptocurrency sector. The deal is subject to due diligence and final approvals.
Sino-Global Shipping America, Ltd. (SINO) has successfully closed a registered direct offering and private placement, raising approximately $28.5 million in gross proceeds. After expenses, the net proceeds are around $26.2 million, intended for working capital and corporate purposes. The offering, coordinated by Maxim Group LLC, utilized a shelf registration statement filed with the SEC. The warrants sold in the private placement remain unregistered. This strategic financial move aims to strengthen the company's operational capabilities amidst an uncertain market environment.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) has completed a registered direct offering and private placement totaling $13.6 million in common stock and warrants. After fees, the company netted approximately $12.3 million which will be allocated for working capital and corporate purposes. The offering was made under a shelf registration statement effective since February 2018. Despite potential risks, including those posed by COVID-19, SINO is positioned for growth as it enhances its financial resources.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) announced a securities purchase agreement to sell approximately $28.5 million in common stock and warrants to accredited investors. The registered direct offering includes 3,655,000 shares priced at $7.80 per share, alongside unregistered warrants for the same amount. This offering aims to bolster capital, with gross proceeds expected to close on February 11, 2021. Maxim Group LLC is the sole placement agent for the offering, which is made under a shelf registration statement.
