Baosheng Media To Raise $10M For Blockchain And Cryptocurrency Spending

China's online marketing solution provider Baosheng Media Group Holdings Ltd BAOS, inked an agreement with two investors, including an Ebang International Holdings Inc EBON subsidiary, to sell 1.96 million shares to raise $10 million.
The company also offered a warrant to purchase one half of one share at an exercise price of $5.61.
The company plans to utilize the offering proceeds for blockchain-based marketing activities and cryptocurrency-associated business.
Baosheng Media plans to accept Bitcoin and other cryptocurrencies for future advertising business, including cryptocurrency investment, implementation of blockchain technology application, and creation of a potential real-time blockchain-based advertising exchange or trading platform.
Price action: BAOS shares traded lower by 1.19% at $7.03 on the last check Thursday.