Seven Stars Cloud Group, Inc. (NASDAQ: SSC) (“SSC” or the “Company”), is pleased to announce that the Company has successfully raised $26M from various leading strategic investors. These investors consist of notable parties such as the following:
1. Star Thrive Group Limited – part of the well-known Changan Investment Group Company Ltd. The investment firm offers fund management, futures brokerage, securities trading, real estate development and management. SSC intends to work closely with Changan Investment Group on the China Operations Center in Xian, China, its supply chain finance and digital settlement blockchain hub linking free trade zones throughout Asia. This represents significant strategic value and synergies to SSC, across its supply chain and blockchain strategy. Star Thrive Group Limited has subscribed to purchase 12,568,306 shares of Common Stock (“Common Stock”) in SSC for $23M.
Additionally, SSC is aware that two entities held by its Chairman have sold 6 million shares of SSC Common Stock to Star Thrive Group Limited on substantially similar terms.
Mr. Wu’s affiliate company in Asia, Sun Seven Stars (“SSS”) and Changan Investment Group agreed to form a joint venture to build out an SSS Operations Center in Xian, China, with approximately $1.5B in investment. It is expected that SSC will also have its own Operations Center here, as part of the SSS Operations Center, in order to drive future technology and go to market use cases in Asia and roll-up the relevant investments and operations into the SSC Global Headquarters for Technology and Innovation in West Hartford, Connecticut. This strategy will continue to drive SSC’s overall commitment to innovation, research, development, and thought leadership across blockchain, AI, and other key technologies as part of its ecosystem. The companies, SSC, SSS, and Changan Investment Group, are committed to the success of this long-term strategy, and co-invest where necessary to lead the global digital revolution.
2. Sun Seven Stars – SSS is a leading media and entertainment company in China and has access to significant media content that fits extremely well within SSC’s tech ecosystem, in order to monetize digital media related assets on the Blockchain. SSS has subscribed to a $3M investment in SSC Common Stock at market price. SSS is an affiliate of Mr. Wu.
We believe that the above strategic and financial investors each bring a tremendous amount of value to SSC, not only as a result of their financial commitments into SSC, but as a result of the “smart money” they bring to the table in terms of their global reach, deep industry expertise across verticals, and leading partnership opportunities.