Crypto-companies keep conquering the field of finances. In particular, Ether Capital – the stock of cyber assets investment firm – started trading on NEO bourse, headquartered in Toronto, Canada.
The news came a few days after the firm went through rebranding procedure (changing its name from Ethereum Capital to Ether Capital) and finalized the “the reverse takeover transaction.”
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New Era For Ether Capital
On April 19, the stock of Ether Capital commences trading on NEO venue. At the moment of reporting, the firm’s ETHC shares are being sold and bought at the rate of around USD 2.45.
According to the words of Ben Roberts, the Ether Capital’s top info-officer, the firm gathered CAD 45 million. At the same time, it fell 10% short of the firm’s anticipations.
Initially, the company planned to emit 20 million shares. Each share was supposed to be traded at USD 2.50. But things went differently, as the firm managed to vend any more nor any less 18 million shares.
It is noteworthy that CIBC Capital Markets and Canaccord Genuity Corp. co-directed the private proposal.
What Will Happen Next?
The info-officer emphasized that most of the collected capital (around 90%) the firm is going to convert into ethereum units. Currently, it is unknown hominy units have already been bought with the recently gathered funds.
Previously, Ether Capital informed that it had intentions to use a fraction of the raised capital to get “controlling stakes” in firms, related to the second most valuable cyber-coin in the world.
A “Critical Step” In The Existence of Ether Capital
The company is taking a new step in its own development by starting off the public trading. This is the opinion of Ether Capital’s exec head and co-head investment officer, Som Seif. In particular, he noted:
“The completion of this transaction and commencement of public trading represents a critical step in Ether Capital’s mission.”
Also, he stressed that Ether Capital is the “first publicly listed company,” which concentrates entirely on Ethereum net as well as assists in providing “industry-shifting disruptive technologies.” According to Seif words, it’s investors who will benefit from the issue.
Any Legal Issues?
Typically, lots of companies which are run in the cyber money ecosystem encounter troubles in the face of the law. However, in the case of Ether Capital, according to Roberts, everything went seamlessly and comparatively plain. No hurdles hindered the establishment of the firm.
Precisely, Roberts said that “the first step was talking to the Ontario Securities Commission and getting their blessing, then talking to banks and getting them comfortable and setting up a custody solution to house the asset safely.”
He also added that the market wouldn’t be able to understand the value of the offer soon and it might take some time for people to realize the importance of the project.
The main benefit of generating a “pool of assets” is that it provides individuals with a site in the marketplace. Moreover, Roberts said, the project will give Ether Capital the room in the crypto-community and the ethereum platform.