the Blockchain Industries and BTHMB Holding signed on the 22. January a letter of intent to merge. Since Blockchain Industries is a for the Over-the-Counter trading (OTC) listed company, of the merger, an IPO, on the part of BTHMB.
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23. January 2019BTC$3.569,42 -0.04%part Facebook Twitter LinkedIn xing mail
crypto-companies and IPOs are a thing. Once again, it was said that Bitmain would dare the adventure of the IPO, again, you had to row back. Now Singapore is trying to create, of Holding BTHMB with a deft Dodge, what Bitmain have failed so far. By a so-called Reverse Merger, the smaller of the two aforementioned companies (BTHMB) wants the Blockchain Industries, Inc. . This is an unconventional, but viable means to circumvent tedious IPOs via Initial Public Offerings (IPO). This is only possible because of Blockchain Industries is already listed on the stock exchange. The Holding focuses on Investments in the Blockchain sector.
Then would have to join together the two companies to form a new conglomerate. The new entity is to be called according to the press release from Blockchain Exchange Alliance, in short, BXA,. Its intention is to underline, BTHMB deposited one Million US dollars in a Escrow account.
Bithumb goes West
The Alliance of Bitcoin Exchanges, the South Korean stock market is one of the – not surprisingly – Bithumb, would like to expand with the merger to North America.
“BTHMB/BXA is a global Alliance of crypto-Exchanges. The United States is a key factor for global expansion campaigns“
Dr. Byung Gun Kim, CEO of BTHMB says.
However, when OTC trading is not supposed to stay, it is already planning Bigger: How CNBC with reference to an unnamed source reported to BXA Street in the medium term, to the Wall. This formerly avoided the IPO would, however, be necessary – and thus the compliance with the strict SEC regulations.
Read also: adaptation: In Ohio, you can pay your taxes with Bitcoin
What is a Reverse Merger?
the merger of The two crypto-companies through a Reverse Merger. It is a means of corporate takeover, where the acquired company keeps after the completion of the process, a majority of the shares of the conglomerate. Typically, this is exactly the opposite, because in General, the acquired company is small – not so with the Reverse Merger.
