Intchains Group Limited Announces Closing of Registered Direct Offering of its ADSs and Warrants
Summary
SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) -- Intchains Group Limited (Nasdaq: ICG) (we, us or the Company), a company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the active development of innovative Web3 applications, today announced the closing of its US$1.0 million registered direct offering.On March 27, 2025, we closed the previously announced US$1.0 million registered direct offering for the purchase and sale of 361,011 American Depositary Shares (ADSs), each representing two of our Class A ordinary shares (the Class A Ordinary Shares), at a purchase price of US$2.77 per ADS, and warrants to purchase up to an aggregate of 361,011 ADSs at US$2.77 per ADS, which is equal to the offering price per ADS (the Warrants).We received gross proceeds of US$1.0 million from the issuance and sale of the ADSs and Warrants, before deducting the placement agent fees and other offering expenses payable by the Company. A copy of the engagement letter dated December 21, 2024 between The Benchmark Company, LLC and Intchains Group Limited is furnished as Exhibit 10.3 hereto and is incorporated by reference herein.This Form 6-K is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities, which is made only by means of a prospectus supplement and related prospectus. Forward-looking statements include, but are not limited to, statements about: (i) our goals and strategies; (ii) our future business development, formed condition and results of operations; (iii) expected changes in our revenue, costs or expenditures; (iv) growth of and competition trends in our industry; (v) our expectations regarding demand for, and market acceptance of, our products; (vi) general economic and business conditions in the markets in which we operate; (vii) relevant government policies and regulations relating to our business and industry; (viii) fluctuations in the market price of ETH-based cryptocurrencies; gains or losses from the sale of ETH-based cryptocurrencies; changes in accounting treatment for the Companys ETH-based cryptocurrencies holdings; a decrease in liquidity in the markets in which ETH-based cryptocurrencies are traded; security breaches, cyberattacks, unauthorized access, loss of private keys, fraud, or other events leading to the loss of the Companys ETH-based cryptocurrencies; impacts to the price and rate of adoption of ETH-based cryptocurrencies associated with financial difficulties and bankruptcies of various participants in the industry; and (ix) assumptions underlying or related to any of the foregoing. Investors can identify these forward-looking statements by words or phrases such as may, could, will, should, would, expect, plan, intend, anticipate, believe, estimate, predict, potential, project or continue or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.