SOLAI Ltd 6-K, filed Jan 21, 2021
SOLAI Ltd (SLAIY)
About this 6-K
SOLAI Ltd filed this 6-K on January 21, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2021
Commission File Number: 001-36206
500.com LIMITED
12F, West Side, Block B, Building No.7
Shenzhen Bay Eco-Technology Park
Nanshan District
Shenzhen, 518115
People's Republic of China
(86 755) 8633 0000
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
TABLE OF CONTENTS
| SIGNATURE |
|---|
| EX-99.1 |
TABLE OF CONTENTS
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| 500.com LIMITED | |
|---|---|
| By: | /s/ Xianfeng Yang |
| Name: | Xianfeng Yang |
| Title: | Chief Executive Officer |
Date: January 21, 2021
Exhibit 99.1
500.comLimited Announces Private Placement Subscription Price to be Settled in U.S. Dollars and Bitcoin
January 21, 2021
SHENZHEN, China, January 21, 2021 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), today announced that, in connection with the definitive share subscription agreement with Good Luck Information Technology Co., Limited entered into on December 21, 2021, it has determined that 50% of the subscription price, or approximately US$11.5 million, shall be settled by U.S. dollars, with the remaining 50% of the subscription price, or approximately US$11.5 million, being settled by Bitcoin. The Bitcoin to U.S. dollars exchange rate shall be US$32,326.29 to one Bitcoin, being the average of the closing trading prices for Bitcoin published by Coinmarketcap for each of the 31 days ended January 20, 2021. The payment of the subscription price and the issuance of Class A Shares is expected to occur before February 20, 2021, subject to the fulfillment of other customary closing conditions.
About500.com Limited
500.com Limited (NYSE: WBAI) is an online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. Most recently, 500.com is actively developing its blockchain-related business.
SafeHarbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
Formore information, please contact:
500.com Limitedir@500wan.com
Ms. Danni Zheng
Phone: +86 755 8633 8005