INX Limited announced today that the Securities and Exchange Commission (SEC) has approved its Form F-1 filing in connection with its initial public offering of up to 130 million INX security tokens.
The Form F-1 is the official statement filed by foreign companies to register additional securities as well by private companies that are trying to go public through an initial public offering.
The Gibraltar-based company has set its offering price at $0.90 per token with a minimum investment of $1,000. The offering is expected to begin on August 25.
According to the announcement, INX plans to use a portion of the net proceeds from the offering to continue developing and operating INX Trading Solutions, an initiative working towards the trading of blockchain assets like cryptocurrencies and security tokens.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.