Capital Pooling Firm Valdy Rebrands to INX Digital After Reverse Merger
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 Tuesday.
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.Source