BIT Mining Limited (500.com Limited) Announces Voting Results of Extraordinary General Meeting
BIT Mining Limited (NYSE: WBAI) announced the results of its extraordinary general meeting held on April 8, 2021. Shareholders approved a name change to 'BIT Mining Limited', effective immediately, and approved an increase in authorized share capital by $50,000, adding 900 million Class A and 100 million Class B ordinary shares. The ticker symbol will change to 'BTCM', effective April 20, 2021. The company also appointed Cogency Global Inc. as its new service process agent.
- Shareholders approved a name change to BIT Mining Limited, enhancing brand alignment with the cryptocurrency sector.
- Increase in authorized share capital by $50,000 provides more flexibility for future investments.
- The upcoming name and ticker symbol change might cause temporary confusion among investors.
SHENZHEN, China, April 12, 2021 /PRNewswire/ -- BIT Mining Limited (500.com Limited, NYSE: WBAI) ("BIT Mining Limited" or the "Company"), a leading cryptocurrency mining enterprise, today announced that at its extraordinary general meeting, held on April 8, 2021, the Company's shareholders passed both (i) the special resolution to change the English name of the Company to "BIT Mining Limited", effective as of April 8, 2021 and (ii) the ordinary resolution to increase the authorized share capital of the Company by US
As previously announced by the Company on March 8, 2021, a majority of its Board of Directors (the "Board") resolved to change (i) the Company's English name to "BIT Mining Limited" (the "English Name Change"), subject to shareholder approval being received for the English Name Change, (ii) the Company's Chinese business name to "比特矿业", and (iii) the Company's ticker symbol to "BTCM".
The Company's American Depositary Shares ("ADSs"), each representing the right to receive 10 Class A ordinary shares with par value of US
New Agent for Service of Process
The Company previously appointed Law Debenture Corporate Services Inc. as its agent for the service of process in respect of the Company's Registration Statement on Form F-1 (File No. 333-191844), as amended, initially filed with the SEC on October 22, 2013 (the "Form F-1 Registration Statement"), this appointment has now expired. The Company also announced today that it has appointed Cogency Global Inc., currently located at 122 East 42nd Street, 18th Floor, New York, New York 10168, as its successor agent for the service of process in respect of the Form F-1 Registration Statement, effective as of and after April 9, 2021.
About BIT Mining Limited
BIT Mining Limited (NYSE: WBAI) is committed to becoming a leading cryptocurrency mining enterprise. Since announcing its entry into the cryptocurrency industry in December 2020, the Company has entered into definitive agreements to (i) purchase cryptocurrency mining machines, (ii) increase holdings of Loto Interactive Limited (HKEX: 08198), a subsidiary of the Company that owns big data centers, (iii) acquire the entire mining pool business of Bitdeer Technologies Holding Company, operated under BTC.com, including the domain name BTC.com and the cryptocurrency wallet of BTC.com, and (iv) acquire Bee Computing (HK) Limited, a 7-nanometer mining machine manufacturer, to unfurl an approach to the full industry chain of cryptocurrency mining. BIT Mining was also an online sports lottery service provider in China.The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users.
Safe Harbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For further information:
BIT Mining.com Limited
ir@500wan.com
Ms. Danni Zheng
Phone: +86 755 8633 8005
The Piacente Group, Inc.
Helen Wu
Tel: +86 (10) 6508-0677
Email: 500@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: 500@tpg-ir.com
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SOURCE 500.com Limited
FAQ
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