Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, today announced the July 15, 2020 closing of its previously announced sale of $3,262,000 of senior secured convertible notes in a private placement to two accredited institutional investors, together with the issuance of warrants to acquire up to 784,000 ordinary BHAT shares, for an aggregate cash purchase price of $2,800,000 (reflecting an original issue discount of $462,000). “We are pleased to announce the closing of the transaction previously announced on July 9, 2020,” Xiaodong Chen, CEO of Blue Hat, said in the news release. “We believe this investment helps strengthen our financial position and provides the Company with the resources to grow its business. As a consumer-centric company, we are committed to providing our users with an engaging and interactive experience.”
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About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games and toys with mobile game features. The company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the company’s investor relations website at www.IR.BlueHatGroup.com.
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