The crypto trading platform first takes money from outside before the public offer
The crypto trading platform first takes money from outside before the public offer
- Aurox plans to go to the stock exchange in the fourth quarter, although a list could be made earlier
- The company did not sell any of its tokens as part of the deal
The Aurox trading platform has taken out debt for the first time because the company is preparing for the IPO in the course of this year.
Aurox has raised a seed round of $ 5 million with a post-money rating of $ 25 million, Chief Executive Officer Giorgi Khazaradze told Blockworks. The evaluation is deliberately low, said Khazaradze, to make room for additional risk financing and demonstrate growth before going to the IPO.
Deborah Braun and Brett Rosen from the RB Capital investment company took part in the round, together with other supporters, including a number of wealthy private individuals.
The plan is to "create another round and possibly a few rounds" before becoming a stock corporation, said Khazaradze.
"The initial traction of our IPO always revolved around this deal," said Khazaradze.
aurox offers its spin on a Bloomberg trading terminal for crypto, including support for decentralized finances (Defi)-whereby every trade that is carried out via smart contracts is deducted. The company also monitors its own token, $ Urus, and did not sell any tokens as part of the fundraising campaign.
Since Khazaradze and other managers have stocks with so-called supervoting powers-with a ratio of 10 to 1-, Aurox 'existing possession will keep control of the company.
It is planned to go to the stock exchange in the fourth quarter of this year, although this could happen earlier. All options for this are on the table, including a traditional IPO (IPO), a merger with a SPAC, a reverse merger or a direct list.
khazaradze refused to comment on the most likely result, but said that "there is definitely a profitable path", which is waiting for the legal approval.
The funds are intended to advance the company's attitude, bring new products onto the market and cover the costs for later listing this year.
"Now that we have the initial money, we can choose who we collect money from," he said.
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The post "Crypto Trading Platform Takes First Outside Money in Advance of Public Offering" is not a financial advice.