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INX Preps to Launch IPO for its Security Tokens of $117 Million

Today, INX Limited declared that it would begin its Initial Public Offering of up to 130 million INX Security Tokens. It anticipates that the INX Initial Public Offering will commence on August 24, 2020, or shortly after that.

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INX Preps to Launch IPO for its Security Tokens of $117 Million

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  1. INX Preps to Launch IPO for its Security Tokens of $117 Million INX Limited announced that it would begin its Initial Public Offering of up to 130 million INX Security Tokens in US. Today, INX Limited declared that it would begin its Initial Public Offering of up to 130 million INX Security Tokens. It anticipates that the INX Initial Public Offering will commence on August 24, 2020, or shortly after that. The Gibraltar based trading group filed an F-1 form with the Securities and Exchange Commission (SEC). F-1 form is a securities registration form for non-U.S. issuers. Following the revised prospectus, it anticipates that the sale will take place before the end of the year. INX tweeted about the IPO via its official twitter account. As per the ​filing​, INX has priced 130 million INX tokens at $0.90 each. It allocates the maximum raise at $117 million. This could make it the biggest Initial Public Offering in the digital asset industry so far. The current target is in the middle range of the previous prospectus, filed in March. That was when the company hoped to sell the shares at $0.80 to $1.00 a piece, raising $130 million. INX Enables Trading INX tokens with Crypto and USD The investors can buy INX Tokens with crypto and the USD. INX will receive commits made in the stablecoin USDC, bitcoin, and ether. However, the sale should exceed the minimum $7.5 million raise amount. The cryptocurrency and security token exchange, INX attempts to operate in the U.S. It has relentlessly been trying to register with the SEC for more than two years.

  2. INX is an ERC-20 token. Thus, investors will require an Ethereum wallet address to partake in the sale. In the latest filing, the exchange said that it would not transfer tokens to Ethereum wallets based on the platforms of rival exchanges, including Coinbase. INX intends to use a portion of the net proceeds raised from the sale of INX Tokens in the Offering for the continued development and operation of INX Trading Solutions. It is a regulated solution for the trading of blockchain assets, including cryptocurrencies, security tokens, and their derivatives, and the establishment of a cash reserve fund. Read more: https://cryptodose.co/inx-preps-to-launch-ipo-for-its-security-tokens-of-117- million/

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