09:40 AM EST, 01/15/2025 (MT Newswires) -- Mercurity Fintech Holding ( MFH ) shares were over 12% higher Wednesday after the company said it priced an additional private-investment-in-public-equity or PIPE financing for the sale of 1.37 million common shares to an institutional investor at $5.87 per share, raising about $8 million in proceeds.

The company said the PIPE financing, which is expected to close on or before Friday, follows its $10 million PIPE offering with the same institutional investor in December.

Mercurity Fintech ( MFH ) said the proceeds will be used for the development of its business in AI hardware manufacturing and advanced liquid cooling products.

Price: 6.31, Change: +0.71, Percent Change: +12.68