Per the terms of the deal, 500.com will issue an aggregate of 44,353,435 Class A shares to Blockchain Alliance at the first closing, which is expected to occur by April 15, 2021. The shares represent roughly 10% of 500.com outstanding shares as of January 31, 2021.
Blockchain Alliance agreed to subject the Class A Ordinary Shares it receives as part of the deal to a lock-up period in accordance with the Share Exchange Agreement. The agreement is subject to various closing conditions, including transfer the domain name BTC.com and the digital currency wallet of BTC.com.
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Blockchain Alliance agreed to subject the Class A Ordinary Shares it receives as part of the deal to a lock-up period in accordance with the Share Exchange Agreement. The agreement is subject to various closing conditions, including transfer the domain name BTC.com and the digital currency wallet of BTC.com.
read more (500)
Read more (coingeek)
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