Mercurity Fintech (MFH) stock was down more than 64% in recent Monday trading after the company said it has priced a registered direct offering of about 12.5 million shares and the same number of warrants.

The shares are priced at $3.50 each, and the warrants will have an exercise price of $3.50 per share and a term of five years, the company said.

The offering will likely close on Tuesday, Mercurity Fintech said, adding that the offering proceeds would fund the company's crypto treasury strategy, among others.

Price: 1.85, Change: -3.32, Percent Change: -64.24