SOS Continues To Raise Capital Via Share Sale For Cryptocurrency Mining, Shares Drop

by Anusuya Lahiri, Benzinga Staff Writer

February 18, 2021 10:57 AM | 1 min read | Make a Comment

SOS Limited (NYSE: SOS) priced 8.6 million shares at $10 per share to raise $86 million in a secondary offering. The offer price signifies a 21.9% discount to the Wednesday closing price.
The offering proceeds will be utilized to develop its recently launched cloud cryptocurrency mining and cryptocurrency security and insurance business, working capital, and general corporate requirements.
Maxim Group LLC is the placement agent for the offering.
Last week the company raised $110 million in another equity sale.
Price action: SOS shares were down 14.1% at $10.99 on the last check Thursday.

Posted In: Cryptocurrency News Offerings Small Cap Markets Tech Media bitcoin mining

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.