BIT Mining narrows its stake in Loto Interactive through sale of shares

BIT Mining narrows its stake in Loto Interactive through sale of shares


Seeking Alpha
2022-07-12 11:36:33

BIT Mining (NYSE:BTCM) entered into a share sale and purchase agreement with an unaffiliated third party wherein the company agreed to sell and buyer agreed to sell, and the buyer agreed to purchase ~51% of the total issued share capital of Loto Interactive.It represents 279.67M shares of Loto Interactive at the price of HK$0.28/share for total consideration of HK$78.3M.Post the transaction, the company's share ownership in Loto Interactive will decrease to 8.79%.