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.
Jan 11, 2022 at 12:28 p.m. UTCUpdated May 11, 2023 at 7:14 p.m. UTC
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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.
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UPDATE (Jan. 11, 13:17 UTC): Corrects day in first paragraph to Monday from Tuesday.
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Jamie Crawley is a CoinDesk news reporter based in London.