Bitmooni to raise $20 million in Toronto Stock Exchange IPO

Bitmooni to raise $20 million in Toronto Stock Exchange IPO

The cryptocurrency exchange, which launched an initial public offering (IPO) based on Ethereum in 2020, plans to get a listing in the section for venture capital companies of the Toronto Stock Exchange (TSVX). This is stated in additional materials for the US Securities and Exchange Commission (SEC).

The amount of funds raised can reach up to 25 million Canadian dollars (~$19.6 million).The received funding will be used for research and development, sales, marketing, general expenses, as well as mergers and acquisitions.

Gibraltar-based will offer 20 million shares at a price of 1.25 Canadian dollars (~$0.98). Trading on TSVX may start in the second quarter of 2021.

According to the document, the initiative is aimed at “increasing trust”. The degree of disclosure required by the TSVX listing will enable ” strategic collaboration with Fortune 500 companies and institutional investors.”

In October, announced the purchase of Chicago-based broker-dealer OpenFinance Securities. later applied to list its digital shares on the Canadian Stock Exchange (CSE).

According to Bloomberg, Robinhood, a digital asset-friendly platform, may file for an IPO in March.

Similar plans can be built in the management of the Kraken bitcoin exchange.