Zinger Key Points
- AGM announced it completed a $5.4 million public offering.
- The company intends to expand its bitcoin mining operations with the net proceeds.
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AGM Group Holdings, Inc. AGMH shares are trading higher on Thursday after the company announced it completed a $5.4 million public offering.
The Details: AGM intends to use the net proceeds in order to buy 2,000 Bitcoin BTC/USD mining machines for a total purchase price of $9.62 million.
The company sold 16.39 million Class A ordinary shares with warrants at a combined price of 33 cents each.
AGM shares are trading with higher-than-normal session volume at 382.53 million shares. The company’s average session volume over the past 100 days is 1.18 million shares.
AGMH Price Action: At the time of writing, AGM shares are trading 122% higher at 22 cents, according to data from Benzinga Pro.
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