Mercurity Fintech Holding Inc., a digital fintech group, is pleased to announce that on November 30, 2023, it priced a private investment in public equity (“PIPE”) offering, through which it sold an aggregate of 14,251,781 units of its securities, each consisting of one (1) ordinary share and three (3) warrants, to one non-U.S. institutional investor at an offering price of $0.421 per unit, for the gross proceeds of $6 million (the "Gross Proceeds"), prior to the deduction of fees and offering expenses payable by the Company. The warrants are exercisable to purchase up to a total of 42,755,344 ordinary shares, for three years commencing from November 30, 2023, at an exercise price of US$1.00 per ordinary share.

The Company intends to utilize the net proceeds derived from the PIPE for general working capital purposes, enhancing its human capital and business development. The PIPE financing proceeds were received on December 4, 2023.

The securities described above were sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements.

Shi Qiu, CEO of MFH, commented on this significant development, stating, “We are grateful to our investors for their continued support and investments that will allow us to grow our business. Our commitment to delivering value to our public shareholders is the driving force behind our decision-making. By accepting these commitments for a strategic infusion of growth capital, we are confident that our company will continue to expand upon a solid foundation for success.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.