BIGG Digital Assets has announced that it has increased its previously announced public offering to 25 million units of the Company at a price of $0.24 per unit, equalling approximately $6 million.
The offering is being conducted by a group of underwriters, which includes Canaccord Genuity Corp, is being led by PI Financial.
BIGG Digital Assets will file an amended and restated short form prospectus with the securities commission in each of the provinces of Canada aside from Quebec.
BIGG owns two operating companies: Blockchain Intelligence Group and Netcoins. An application was submitted by Netcoins to the British Columbia Securities Commission and the Canadian Securities Administrators’ regulatory sandbox in October.
Millennial retail investors will choose #Bitcoin over physical #gold, and institutional investors are already doing the same. 📈
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— Netcoins (@Netcoins) November 12, 2020
The Company intends to use the proceeds from the Offering for research and development, expansion of sales and marketing teams for Blockchain Intelligence Group internationally and Netcoins domestically, additional liquidity for Netcoins trade settlement, increase of long-term Bitcoin investment holdings, and working capital.
The Offering is expected to close on or about November 30, 2020 and is subject to certain conditions including the receipt of all necessary approvals, including the approval of the CSE.
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