Blue Hat Interactive Entertainment Technology Announces Exercise and Closing of Underwriter’s Over-Allotment Option in IPO

Aug 8, 2019 at 4:30 PM EDT

XIAMEN, China, Aug. 08, 2019 (GLOBE NEWSWIRE) -- via NetworkWire - Blue Hat Interactive Entertainment Technology (“Blue Hat”) (NASDAQ: BHAT), a producer, developer and operator of augmented reality interactive entertainment games and toys in China, announces the issuance and sale of an additional 141,114 ordinary shares priced at $4 per share, before underwriting discounts and commissions, resulting in gross proceeds of $564,456, before underwriting discounts and commissions and offering expenses, pursuant to the exercise of the underwriter’s over-allotment option in connection with Blue Hat’s previously announced underwritten initial public offering (“IPO”). After giving effect to the exercise of the underwriter’s over-allotment option, the total number of ordinary shares sold by Blue Hat in the IPO was 2,141,114 shares and gross proceeds were $8,564,456, before underwriting discounts and commissions and offering expenses.

The ordinary shares were approved for listing on The Nasdaq Capital Market and on July 26, 2019, commenced trade under the ticker symbol “BHAT.”

ViewTrade Securities Inc. (“ViewTrade Securities”), a global provider of brokerage, investment banking, corporate, advisory and trading platform services, acted as the sole book-running manager and sole underwriter for the offering.

A registration statement on Form F-1 (File No. 333-230051), including a prospectus relating to the offering, was filed with the U.S. Securities and Exchange Commission (the “SEC”) and on July 25, 2019, was declared effective by the SEC, and a registration statement filed pursuant to Rule 462(b) (File No. 333-232840) which increased the number of registered shares from 2,250,000 to 2,500,000 became effective upon filing with the SEC. The offering of the ordinary shares was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained on the SEC’s website (www.sec.gov) and may also be obtained from ViewTrade Securities Inc., Attention: Prospectus Department, 7280 W Palmetto Park Rd, Suite 310, Boca Raton, Florida 33433, or by email at ib@viewtrade.com. Please indicate your request for a prospectus.

Before you invest, you should read the prospectus and other documents Blue Hat has filed or will file with the SEC for more complete information about Blue Hat and the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Blue Hat Interactive Entertainment Technology

Blue Hat, headquartered in Xiamen, China, is a producer, developer and operator of augmented reality interactive entertainment games and toys, including interactive educational materials, mobile games, and toys with mobile game features. For more information, visit the company’s website at www.bluehatgroup.net.

About ViewTrade Securities Inc.

ViewTrade Securities is a U.S.-registered broker dealer providing brokerage, trading, investment banking & advisory services for U.S. retail investors and B2B to major financial institutions worldwide, including some of the largest institutions in their domestic markets. ViewTrade Securities’ Investment Banking Division offers capital raising and advisory services to growth-oriented companies both domestically and in emerging markets.

Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to Blue Hat’s proposed initial public offering. Words such as “will,” future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed initial public offering discussed above will be completed on the terms described. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Blue Hat, including, without limitation, the failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement in the form last filed with the U.S. Securities and Exchange Commission. Blue Hat undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts

Blue Hat Contact
Blue Hat Interactive Entertainment Technology
Xiaodong Chen, President, Chief Executive Officer and Director
sean@bluehatgroup.net 
86-592-228-0081

Corporate Communications  
Xiaoyun Zhang (张小云)
Corporate Communications
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com 
212.418.1217 Office
Xiaoyun.Zhang@NetworkWire.com