08:20 AM EST, 12/26/2024 (MT Newswires) -- Mercurity Fintech ( MFH ) said Thursday it closed a sale of 1.47 million shares, priced at $6.81 apiece, to an institutional investor for gross proceeds of $10 million.

The company said it plans to use the net proceeds from the sale to support its recent investments in AI hardware intelligent manufacturing, as well as to develop advanced liquid cooling technology.

Shares were down over 5% in recent premarket activity.