INX Limited’s $39.6 Million Private Placement

Cassels acted for the agents of the private placement.

On April 1, 2021, INX Limited, a company that provides a regulated trading platform for digital securities and cryptocurrencies, completed a private placement of 31,680,000 subscription receipts at a price of $1.25 per subscription receipt for aggregate gross proceeds of $39.6 million in connection with a reverse take-over of Valdy Investments Ltd.

The financing was conducted through a syndicate of agents led by PI Financial Corp. and Eight Capital, and including Beacon Securities Limited and Cormark Securities Inc.

 

INX was founded by financial market, cryptocurrency and technology experts with a shared vision of revolutionizing the world of finance and financial crypto trading.

The Cassels’ team included Greg Hogan (Picture), Heesoo Kim and Reza Sarsangi (Securities).

 

Involved fees earner: Gregory Hogan – Cassels Brock & Blackwell LLP; Heesoo Kim – Cassels Brock & Blackwell LLP; Reza Sarsangi – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: Beacon Securities Limited; Cormark Securities Inc.; Eight Capital Inc.; PI Financial Corp.;

Martina Bellini

Author: Martina Bellini