Mercurity Fintech Holding (MFH) shares were over 12% higher Wednesday after the company said it priced an additional private-investment-in-public-equity or PIPE financing for the sale of 1.37 million common shares to an institutional investor at $5.87 per share, raising about $8 million in proceeds.
The company said the PIPE financing, which is expected to close on or before Friday, follows its $10 million PIPE offering with the same institutional investor in December.
Mercurity Fintech said the proceeds will be used for the development of its business in AI hardware manufacturing and advanced liquid cooling products.
Price: 6.31, Change: +0.71, Percent Change: +12.68
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