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BIT Mining narrows its stake in Loto Interactive through sale of shares

  • BIT Mining (NYSE:BTCM) entered into a share sale and purchase agreement with an unaffiliated third party wherein the company agreed to sell and buyer agreed to sell, and the buyer agreed to purchase ~51% of the total issued share capital of Loto Interactive.
  • It represents 279.67M shares of Loto Interactive at the price of HK$0.28/share for total consideration of HK$78.3M.
  • Post the transaction, the company's share ownership in Loto Interactive will decrease to 8.79%.

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Comments (1)

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Confusing news release…BTCM needs cash and seem to be raising cash at very dilutive levels….

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