Crypto Startup Plans Token IPO That Could Raise $150M
Law360 (December 20, 2019, 8:13 PM EST) -- Cryptocurrency exchange startup INX Ltd. said Friday it will launch a roadshow in January for an initial public offering of security tokens that could net nearly $150 million to develop trading platforms, guided by three firms including U.S. counsel from McDermott Will & Emery LLP.
Gibraltar-based INX plans to offer 130 million tokens priced between 65 cents and $1.15 each, a range that would raise between $84.5 million and $149.5 million. INX said proceeds will fund regulated platforms that would trade blockchain-related assets, including cryptocurrencies, security tokens and their derivatives.
Blockchain is the technology that underpins digital currency. INX said proceeds...
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