Cryptocurrency exchange INX plans to raise $ 19.6 million through a listing on the TSX Venture Exchange (TSXV), Canada.
INX said the company plans to raise $ 19.6 million through a listing on the TSXV Canadian stock exchange. According to the exchange representatives, this will increase the level of trust in the site, and the public reporting and transparency required for listing on TSVX will help attract “strategic partners from the Fortune 500 list and institutional investors.”
According to a filing with the US Securities and Exchange Commission (SEC), INX will offer 20 million shares as part of the listing at a price of 1.25 Canadian dollars. The money raised will go towards research, development, sales, marketing, general expenses, and mergers and acquisitions. INX will be listed on TSXV in Q2 2021.
Recall that in 2019, INX submitted to the SEC a preliminary emission prospectus for 130 million INX tokens based on Ethereum. INX token holders are entitled to 40% of the company’s net cash flow from operating activities, but not as shareholders. In October 2020, the exchange conducted a token sale.