On June 26, 2020, Ebang International Holdings Company (Ebang International, stock code: NASDAQ: EBON) completed its NASDAQ IPO . Ebang International priced its shares of the offering at USD 5.23 per share and raised USD 100.75 million, becoming the second bitcoin mining manufacturer to launch a public listing.

Headquartered in Hangzhou, Zhejiang province, Ebang International was founded by Mr. Hu Dong in January 2010. The company specializes in application-specific integrated circuit (ASIC) chip design and the manufacturing of high-performance, bitcoin mining machines. Ebang International focuses on the design of ASIC chips, telecommunications, and the design, production and sale of blockchain processors (or BPUs, which are a type of special computing hardware designed for cryptocurrency mining, generally referred to as “mining machines”). The company derives its revenue primarily from the sale of blockchain processors and telecommunications equipment.

As the legal counsel on Chinese law for Ebang International, Jingtian & Gongcheng’s legal team guided the client through the offering process, assisted the company in the delisting from the New OTC Market and establishing its red-chip structure, conducted thorough due diligence on Ebang International’s domestic subsidiaries, analyzed and offered solutions to critical legal issues, reviewed and advised on industry regulations, produced business compliance opinions, reviewed and revised the prospectus, produced Chinese legal opinions and responded to inquiries from the U.S. Securities and Exchange Commission and Nasdaq. Jingtian & Gongcheng advised Ebang International in successfully completing its public listing, garnering praise and strengthening our relationship with the client and other intermediary institutions.