Benzinga | Feb 12, 2021 06:48AM EST

SOS Raises $110M In Secondary Offering At 21% Discount

* China's SOS Limited (NYSE: SOS) priced 22 million shares at $5 per share to raise $110 million in a secondary offering to develop its strategic blockchain-based security and insurance technology business, working capital, and general corporate use.

* The offer price signifies a 21% discount to Thursday's closing price and is likely to close by February 17, 2021.

* Maxim Group LLC is the placement agent for the offering.

* SOS disclosed its plans to acquire Canada's blockchain technology and cloud crypto company FXK Tech Corporation.

* It is also in talks to acquire 15645 Mining Rigs, BTC Hash Power 527P, ETH Hash Power 1056G for $20 million towards cloud cryptocurrency mining.

* Price action: SOS shares are down 17.1% at $5.24 in the pre-market session on the last check Friday.