Chinese Bitcoin (BTC) miner manufacturer Ebang will reportedly be listed on Nasdaq Global Market under the ticker EBON later this week, becoming the second crypto mining company to go public in the United States.
According to a report from Chinese crypto news outlet Blockbeats, Ebang will be officially listed on Friday, June 26. Additionally, Blockstream chief strategy officer Samson Mow tweeted a screenshot of an invitation to a Ebang event held at a hotel in Hangzhou, where the company is headquartered, which also starts on Friday.
Ebang aims to raise $125 million, extending the original goal
Ebang filed for a $100 million initial public offering (IPO) with the United States Securities and Exchange Commission in April this year. The firm decided to enter the U.S. stock market after an unsuccessful attempt to conduct a $1 billion IPO in Hong Kong in 2018.
On June 17, the company submitted its latest filing to the SEC, choosing the Nasdaq as its listing exchange.
The Chinese mining player aims to raise $106 million by putting 19.3 million shares on sale at a price range of $4.50 to $6.50, meaning that it now intends to raise up to $125 million, while the initial proposal was hard capped at $100 million. If the IPO is successful, Ebang’s market value could come close to $800 million.
Notably, Ebang’s sales have been decreasing since 2018. In 2019, Ebang’s annual revenue was