The stock of cryptocurrency investment firm, Ether Capital, has commenced trading on Toronto-based NEO Exchange. The listing comes days after the company completed its previously announced “reverse takeover transaction” that saw the company rebrand from Ethereum Capital.
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Ether Capital Shares Commence Trading on Canadian Stock Exchange
Ether Capital’s stock began trading on Toronto’s NEO Exchange on Thursday. As of this writing, the company’s ETHC shares are currently trading at approximately $2.45 USD.
The company’s chief information officer, Ben Roberts, has told reports that the company raised $45 million CAD – falling 10 percent short of the company’s expectations. Ether Capital had originally sought to issue 20 million shares priced at $2.50 each, however, was only able to sell 18 million shares. The private offer was co-directed by CIBC Capital Markets and Canaccord Genuity Corp.
Stock Listing Comprises “Critical Step” for Ether Capital
Mr. Roberts indicated that Ether Capital plans to convert approximately 90 percent of the raised funds into ETH tokens. Mr. Roberts did not disclose how many tokens had already been purchased with the newly raised capital. According to a January press release, Ether Capital indicated that it also plans on using a portion of the funds to obtain “controlling stakes in Ethereum-based businesses.”
Som Seif, the executive chairman and co-chief investment officer of the company, has stated that “The completion of this transaction and commencement of public trading represents a critical step in Ether Capital’s mission.” Mr. Seif added that the company is “excited to provide investors with the opportunity to invest in the first publicly listed company focused solely on the Ethereum ecosystem and to help
