Mercurity Fintech Holding Inc. (MFH) (Nasdaq: MFH) successfully closed a US$10 million private investment in public equity (PIPE) financing on December 23, 2024. The financing involved the sale of 1,470,000 ordinary shares at US$6.81 per share to a single institutional investor. This price reflected the market closing price on December 18, 2024. The gross proceeds totaled approximately US$10 million, before fees and expenses.

MFH will allocate the net proceeds to strategic initiatives, including its recent investments in AI hardware intelligent manufacturing and advanced liquid cooling solutions. These investments aim to enhance the efficiency and sustainability of AI infrastructure, aligning with the company’s broader technology and fintech services strategy. Funds will also cover ongoing operational expenses and support shareholder value through sustainable growth.

The securities were sold in a private placement, unregistered under the Securities Act of 1933 and cannot be offered or sold in the US without SEC registration or an exemption.

MFH CEO Shi Qiu expressed enthusiasm for the PIPE financing, highlighting the investor confidence in the company’s direction. He stated that the funding will bolster operations and enable scaling of AI hardware intelligent manufacturing and liquid cooling solutions, keeping pace with evolving industry demands. He concluded by emphasizing the company’s commitment to delivering shareholder value.

This press release does not constitute an offer to sell or solicitation to buy securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.

About Mercurity Fintech Holding Inc.
Mercurity Fintech Holding Inc. is a digital fintech group with subsidiaries providing distributed computing and digital consultation services across North America and the Asia-Pacific region. We focus on providing innovative financial solutions while maintaining compliance, professionalism, and operational efficiency, aiming to be a trusted partner in the evolving financial landscape.

Forward-Looking Statements
This announcement contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties and are based on current expectations and projections. Forward-looking statements can be identified by words like “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or similar expressions. MFH assumes no obligation to update forward-looking statements, except as required by law. While MFH believes these statements are reasonable, actual results may differ materially.

For more information, please contact:
International Elite Capital Inc.
Vicky Chueng
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