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NEW YORK - Mercurity Fintech Holding Inc. (NASDAQ:MFH), a blockchain-powered fintech group, announced Monday the appointment of Peter Nobel as Independent Director to its Board of Directors. The company, currently valued at $274 million, has seen its stock surge over 9% in the past week, according to InvestingPro data.
Nobel, Chairman of the Nobel Sustainability Trust Foundation and a member of the Nobel family, previously held executive positions at Alfa Laval and SWEP International. The company stated that his experience in sustainability, industrial innovation, and governance would support MFH’s vision of combining financial innovation with sustainability standards.
The company also appointed its Chief Strategy Officer, Wilfred Daye, as a Director to the board.
"Peter Nobel represents something truly unique in our industry — a bridge between the institutional credibility that traditional finance demands and the innovative spirit that digital assets require," said Shi Qiu, CEO of Mercurity Fintech, according to the press release.
Nobel founded the Nobel Sustainability Trust in 2007, which the company describes as "the only Nobel family-led institution dedicated to global sustainability."
"The evolution of finance through blockchain and digital assets represents one of the most profound shifts in how value moves through our global economy," Nobel stated in the announcement.
Mercurity Fintech Holding, a Russell 2000 Index member, focuses on blockchain infrastructure and financial services through subsidiaries including Chaince Securities, LLC.
The information in this article is based on a company press release.
In other recent news, Mercurity Fintech Holding Inc. has reported an increase in its institutional investor base, following its inclusion in the Russell 2000 index. The company noted that major asset managers, global banks, and ETF sponsors have either established or increased their positions in the stock. Additionally, Mercurity Fintech announced the completion of a private placement financing, raising approximately $6 million in gross proceeds from institutional investors. This transaction was conducted under Regulation S of the Securities Act of 1933. However, the company also decided to cancel a previously announced registered direct offering of ordinary shares and warrants due to market conditions and unforeseen challenges. In another development, Mercurity Fintech has introduced a share repurchase program of up to $10 million over the next 12 months. The company stated that the buyback reflects its confidence in its long-term strategy and commitment to increasing shareholder value. These developments highlight the company’s ongoing efforts to strengthen its financial position and investor relations.
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