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Capital Pooling Firm Valdy Rebrands to INX Digital After Reverse Merger
Valdy has acquired all outstanding shares in INX, concluding the C$39.6 million ($32.2 million) private placement that INX previously raised.
Canadian capital pooling company Valdy Investments completed the takeover of securities token platform INX and subsequently changed its name to INX Digital, the company said on Monday.
- Valdy acquired all outstanding shares in INX, concluding the C$39.6 million private placement that INX previously raised.
- Before deal closing, common shares of Valdy were consolidated on the basis of 2.7266667 pre-consolidation Valdy Shares for one-post consolidation Valdy Share.
- In May last year, INX completed the first SEC-registered offering of security tokens, raising an estimated $85 million. The initial public offering kicked off around eight months ago on the Ethereum blockchain.
Read more: TZERO Settles SEC Charges It Violated Disclosure Rules
STORY CONTINUES BELOW
UPDATE (Jan. 11, 13:17 UTC): Corrects day in first paragraph to Monday from Tuesday.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
