Chinese blockchain tech company, Mercurity Fintech Holding has entered into a share purchase agreement regarding a private placement of US$1 million.
Mercurity, which provides professional digital financial services driven by blockchain technology, will issue and sell 300,000,000 ordinary shares to Universal Hunter Limited, an existing shareholder, for a cash consideration of US$1 million.
After the closing of the transaction, Universal Hunter Limited will hold approximately 11.4 percent of the issued and outstanding ordinary shares of the Company.
The funds will go towards Mercurity’s goal of creating a globally unified asset trading market through asset digitisation, allowing global assets to flow freely 24/7 worldwide.
Mercurity, which has offices in Jersey City, US, focuses on businesses including digital asset transactions, asset digitisation, and cross-border remittances.
Mercurity is headed up by, Chairperson and CEO Xiaoxia Zhu, who has a background in Chinese hotels and internet startups.