XIAMEN, CHINA, February 1, 2021 / PRNewswire / – Blue Hat interactive entertainment technology (NASDAQ: BHAT), a leading producer, developer and operator of interactive entertainment games, toys and educational materials for augmented reality in Chinaannounced today that it has entered into a securities purchase agreement with two institutional investors to buy and sell 7,160,000 shares of common stock at a price of $ 1.06 per share in a registered direct offering, resulting in gross proceeds of total $ 7,589,600before deduction of agent fees and other estimated bid costs. The Company has also agreed to issue unregistered warrants to investors to purchase up to 3,580,000 common shares in a concurrent private placement. The warrants have an exercise price of $ 1.33 per share, can be exercised immediately and expires three years after the date of issue.

FT Global Capital, Inc. is acting as the sole placement agent in this offering.

The Registered Direct Offering and Private Placement are expected to close on or around the close February 3, 2021subject to the usual closing conditions. Immediately after the completion of the offer and after the issue of the 7,160,000 ordinary shares under the registered direct offering takes effect, 46,973,660 ordinary shares are in circulation.

A shelf registration statement on Form F-3 (File Number 333-249056) in respect of the common stock to be issued in the direct registered offering was previously filed with the Securities and Exchange Commission (the “SEC”) on September 25, 2020 and declared effective by the SEC on October 6, 2020. Such shares are only offered by means of a prospectus. A prospectus supplement and the accompanying prospectus and description of the terms of the registered direct offering will be filed with the SEC and available on the SEC’s website at www.sec.gov.

The unregistered warrants described above were in a private placement pursuant to Section 4 (a) (2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated therein, and together with the warrants were not registered under statute or applicable state securities laws. Accordingly, the warrants and underlying common stock may not be offered or sold The United States except under an effective registration statement or applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor may any sale of these securities take place in any country in which such offer, solicitation or sale may be made prior to registration or qualification such jurisdiction would be unlawful under securities laws.

About Blue Hat

Blue Hat Interactive Entertainment Technology is a manufacturer, developer and operator of interactive AR entertainment games and toys in ChinaThese include interactive teaching materials, cell phone games, and toys with cell phone game functions. The company’s interactive entertainment platform creates unique user experiences by connecting physical objects to mobile devices. By integrating real objects and virtual landscapes, a rich visual and interactive environment is created for users. Blue Hat stands out for its own technology and aims to create an engaging, interactive and immersive community for its users. For more information, please visit the company’s Investor Relations website at http://ir.bluehatgroup.com. The company regularly posts important information on its website.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions about future events or future company performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date of publication. In evaluating such statements, prospective investors should carefully consider various risks and uncertainties identified in this press release and the points set out in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those expressed in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
E-mail: [email protected]

Investor Relations:

The Equity Group Inc. In China
Adam Prior, Senior Vice President Lucy ma, Associate
(212) 836-9606 +86 10 5661 7012
[email protected] [email protected]

SOURCE Blue Hat Interactive Entertainment Technology