Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT), a producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, today announced the closing on July 15, 2020, of its previously announced sale of $3,262,000 of senior secured convertible notes in a private placement to two accredited institutional investors, together with the issuance of warrants to acquire up to 784,000 ordinary shares of the Company, for an aggregate cash purchase price of $2,800,000 (reflecting an original issue discount of $462,000).
“We are pleased to announce the closing of the transaction previously announced on July 9, 2020,” said Mr. Xiaodong Chen, Chief Executive Officer of Blue Hat. “We believe this investment helps strengthen our financial position and provides the Company with the resources to grow its business. As a consumer-centric company, we are committed to providing our users with an engaging and interactive experience.”
FT Global Capital, Inc. acted as exclusive placement agent for the transaction.
Further details regarding the transaction can be found in the Company’s Reports on Form 6-K filed with the Securities and Exchange Commission on July 9, 2020, and the date hereof.
