Blue Hat Interactive's $3.9M Registered Direct Offering Report

Here are the key insights extracted from the financial report provided:

Company Overview

Name: Blue Hat Interactive Entertainment Technology
Location: Huli District, Xiamen, China
Registration: Cayman Island exempted company
SEC Commission File Number: 001-39001

Offering Details

Type of Offering: Registered Direct Offering
Date of Agreement: January 7, 2025
Number of Shares Issued: 55,950,000 ordinary shares
Par Value: $0.01 per share
Offering Price: $0.07 per share
Closing Date: January 9, 2025
Gross Proceeds: Approximately $3.9 million (before fees and expenses)

Use of Proceeds

The net proceeds from the offering are intended for working capital and general corporate purposes.

Terms of the Offering

Placement Agent: Maxim Group LLC
Placement Agent Fee: 7.0% of gross proceeds
Reimbursable Expenses: Up to $50,000 for legal and other expenses incurred by the Placement Agent.
Right of First Refusal: Granted to the Placement Agent for six months post-closing.

Restrictions

For 60 days from the closing date, the Company is restricted from:
Issuing or announcing the issuance of any shares or equivalent securities (with certain waivers).
Filing any registration statements or conducting variable rate transactions.

Regulatory Filings

The Shares were offered under a registration statement on Form F-3 (File No. 333-274893), which was declared effective by the SEC on January 26, 2024.

Forward-Looking Statements

The report contains forward-looking statements regarding future performance, which are subject to risks and uncertainties. These statements are based on management's current expectations and may differ materially from actual results.

Additional Information

The report is deemed filed with the SEC and is incorporated by reference into the Company’s registration statement on Form F-3.
Exhibits included:
Exhibit 5.1: Opinion letter of legality from Campbells.
Exhibit 10.1: Placement Agency Agreement.
Exhibit 10.2: Form of Securities Purchase Agreements.
Exhibit 99.1: Press Release on the pricing of the Registered Direct Offering.

Signatory

Name: Xiaodong Chen
Title: Chief Executive Officer
Date Signed: January 10, 2025

This summary captures the essential information regarding the securities offering and related agreements, providing a clear understanding of the transaction and its implications for Blue Hat Interactive Entertainment Technology.