Diginex, the Hong Kong-based guardian firm of the cryptocurrency trade Equos has raised $20 million forward of its panning itemizing on the Nasdaq inventory market later this month.
The funding was raised from a gaggle of personal buyers by the position of convertible notes, together with household places of work in Hong Kong and London, and a hedge fund reported Bloomberg.
Diginex chief government officer, Richard Byworth mentioned the non-public placement was crucial from the standpoint of buyers assessing the corporate’s upcoming takeover by 8i Enterprises Acquisition Corp. He mentioned,
“This fundraise was an vital initiative to make sure we’re nicely capitalized to spend money on our core companies as we embark on our journey to grow to be one of many world’s main digital asset companies.”
The non-public fundraising announcement got here earlier than its shareholder vote on Sept. 15 on its takeover by 8i Enterprises.
The funds raised in the meantime can be used for capital expenditures. Diginex can be planning to shrink its Hong Kong workplace of 80 individuals, which is two-thirds of its world workers, and relocate them to Singapore together with its trade enterprise.
As for the trade’s itemizing on Nasdaq, the corporate is looking for to get listed on Sept. 23rd if it features approval from the Nasdaq and 8i shareholders. The US Securities and Change Fee (SEC) has already authorised the itemizing.