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Intchains Group Limited Announces Closing of Registered Direct Offering of its ADSs and Warrants

SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) -- Intchains Group Limited (NASDAQ:ICG) ("we," "us" or the "Company"), a company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the active development of innovative Web3 applications, today announced the closing of its US$1.0 million registered direct offering.

On March 27, 2025, we closed the previously announced US$1.0 million registered direct offering for the purchase and sale of 361,011 American Depositary Shares ("ADSs"), each representing two of our Class A ordinary shares (the "Class A Ordinary Shares"), at a purchase price of US$2.77 per ADS, and warrants to purchase up to an aggregate of 361,011 ADSs at US$2.77 per ADS, which is equal to the offering price per ADS (the "Warrants").

We received gross proceeds of US$1.0 million from the issuance and sale of the ADSs and Warrants, before deducting the placement agent fees and other offering expenses payable by the Company. We intend to use the net proceeds primarily for upgrading our offerings of altcoin mining machines, with the remaining proceeds allocated to working capital and other general corporate purposes that support our long-term goals.

In addition, pursuant to the securities purchase agreement (the "Purchase Agreement") that we entered into with the investor (the "Institutional Investor") on March 25, 2025, the Institutional Investor may purchase up to an additional US$1.0 million of additional ADSs at the applicable per ADS purchase price determined pursuant to the terms of the Purchase Agreement or at a price mutually agreed to by the parties. The Institutional Investor may exercise this option in whole or in part at any time until 60 days from March 27, 2025, provided that the Institutional Investor may exercise this option only once during such period.

"We are deeply grateful for the Institutional Investor's recognition of the Company's long-term value, which has significantly strengthened our confidence in the development of the altcoin sector," said Qiang ...